Unilever Nigeria declares N13.3billion PAT in Q1 2020 results
Unilever Nigeria, the nation’s manufacturer and marketer of home and personal care products, has recorded a turnover of N13.3 billion in the first quarter of 2020. This represents a 46% increase compared to the previous quarter 4 of 2019 and a 30.7% decline compared to N19.2bn recorded for the corresponding period, Q1 2019.
Likewise, the result shows the company also recorded a profit after tax of N1.1bn for the period ended 31st March 2020 representing a 27% decline when compared to N1.5billion recorded for the period ended 31st March 2019.
In the same period under review, profit before tax declined by 53.2% to N948m.
However, the company’s net assets grew by 1.7% to N67.6bn from N66.5bn.
According to the company’s Corporate Affairs Director, Mrs. Soromidayo George, “Unilever Nigeria remains focused on its strategy to deliver sustainable growth and will continue to monitor the business environment and remain dynamic in its response to challenges in the economy, in the light of COVID-19 pandemic”.
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