Unilever posts revenue of N23.25 billion in 6 months

Unilever Nigeria Plc recorded revenue of N23.246 billion in its six-month financial year ended June 30, 2021.

The company’s interim financial statements submitted to the Nigerian Stock Exchange showed revenue increased by N6.908 billion or 42.28% from the N16.338 billion reported in the corresponding period of 2021.

Cost of sales during the period amounted to N16.219 billion compared to N11.886 billion for the same period of 2021.

An analysis of earnings over the period showed that gross profit fell from N4.452 billion in the previous year to N7.026 billion while operating profit fell from N297. 915 million to N963,300 during the period under review.

Finance income decreased to N172.443 million from N463.871 million, Finance expense decreased to N507.466 million from N11.094 the previous year, bringing net finance expense to N335.024 million from N452.777 million.

Profit before tax fell to N628.276 million from N650.553 million.

The company paid interim tax of N517.909 million from N353.265 million, bringing profit for the period to N110.367 million from N1.206 billion reported in 2021.

Sales distribution expenses increased from N749.145 million to N1.274 billion, while marketing and administration expenses reached N4.827 billion from N3.343 billion recorded in the comparable period of the year. ‘last year.

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