Unilever Nigeria posts 26% turnover growth in 9 months

“As a centenary old company and the longest serving manufacturing company in Nigeria, Unilever Nigeria is committed to ensuring continuous socioeconomic impact and investment in Nigeria through its brands and operations,”

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Unilever, Turnover, growthUnilever Nigeria Plc has declared a turnover of N81.6 billion for the nine months ended Sept. 30, 2023.

The company’s Managing Director, Tim Kleinebenne, made this known via its unaudited interim report on Friday in Lagos.

Kleinebenne said the turnover represented a growth of 26 per cent when compared with N64.8 billion achieved in the corresponding period of 2022.

He said that the company’s gross profit stood at N19.4 billion for the period under review against N17.2 billion reported for same period last year, an increase of 13 per cent.

“Unilever Nigeria remains focused on the delivery of its 4G growth model of competitive, consistent, profitable, and responsible growth.

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“Unilever is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories.

“Unilever Nigeria will continue to strengthen its operations in the country to meet citizen’s needs in health and hygiene through our brands.

https://www.nigerianstat.gov.ng/

“As a centenary old company and the longest serving manufacturing company in Nigeria, Unilever Nigeria is committed to ensuring continuous socioeconomic impact and investment in Nigeria through its brands and operations,” he said.

Unilever Nigeria Plc is a publicly listed company with trading and manufacturing interest in the consumer goods market. In 2014, it was listed among the top 20 most valuable companies quoted on the Nigerian Stock Exchange. Unilever Nigeria PLC is a subsidiary of Unilever Overseas Holding B.V.

Unilever history in Nigeria dates back to 1923 when Robert Hesketh Leverhulme opened a trading post in Nigeria under the business name, Lever Brothers (West Africa) Ltd. The firm was primarily engaged in trading of soap and in 1924, the name was changed to West African Soap Company. Sensing opportunity in the country, the firm opened a soap factory in Apapa in 1925. The company later expanded into the production of food products, it opened a new soap factory in Aba in 1958 and changed its name to Lever Brothers Nigeria Limited in 1955. In 1960, Lever Brothers introduced Omo detergent into the market, the new product gained traction among buyers, prompting the firm to commission a factory to manufacture Omo detergents in 1964.