LAGOS - Unilever (LON:ULVR) Nigeria Plc has announced a robust financial performance for the year 2023, with its revenue and profits after tax both showing substantial increases. The consumer goods company's revenue surged to ₦97.43 billion, a notable rise from ₦64.64 billion in the previous year. In line with this, profits after tax also climbed to ₦8.54 billion, up from ₦4.47 billion, reflecting a healthy growth trajectory for the firm.

Despite these positive developments, Unilever Nigeria faced some challenges, including a loss of ₦3.73 billion from discontinued operations. Additionally, the company's operating cash flow experienced a downturn, decreasing to ₦2.69 billion. However, these setbacks were offset by a significant increase in finance income, which reached ₦17.13 billion. This boost in finance income was largely due to earnings from interest on call deposits and bank accounts, as well as a promissory note discount connected to the Federal Government Export Expansion Grants, which contributed to the company's overall financial gains.

The earnings per share (EPS) for Unilever Nigeria also reflected the company's positive performance, indicating growth that aligns with the increases in revenue and profit.

jkpbestseries:
The have good economic team that knows how to do business in this administration

omoredia:
Keep deceiving urselves

dadavivo:
Propaganda, wetin remaining for Unilever,

Were they not the one shutting down some of their products like Lux and Omo.

Does shutting down departments in Unilever make them make gains in the Nigerian exchange?

Kaa4:
That profit is not generic, because you cannot be profitable and be closing down at the same time. No doubt only the seriously deep pocketed and widely diversified will survive the economic policies of this administration

Gilgil:
Read the second paragraph carefully to see that the company is not doing well at all.

Their increased income is not due to their production or sales but due to promissory notes and "fixed depositis".

Let's stop deluding ourselves.

Unilever Nigeria faced some challenges, including a loss of ₦3.73 billion from discontinued operations. Additionally, the company's operating cash flow experienced a downturn, decreasing to ₦2.69 billion. However, these setbacks were offset by a significant increase in finance income, which reached ₦17.13 billion. This boost in finance income was largely due to earnings from interest on call deposits and bank accounts, as well as a promissory note discount connected to the Federal Government Export Expansion Grants, which contributed to the company's overall financial gains.

HardMirror:
why do you like bad news?,
There is no way you are an adult that has sense. Do you know that this company pays devidends to shareholders?, if they are lying, where will they see the equivalent money to pay to their share holders as claimed in their report? I doubt you understand anything I said cos you obviously never owned any investment. Run off kiddo



Another kid. Google, apple, Facebook etc all laid off workers l as t year and closed some of their businesses. That they stopped producing Omo does not mean they do not have alternatives for consumers. Stop commenting on a topic that is above your intellectual level. Go and comment in romance section

bionixs:
Wait o. Is it that same Unilever that announced that they will stop the production of some household products like LUX ?
What do i believe?