Unilever Nigeria experiences N492m loss for Q1 2021

Unilever Nigeria Plc, the longest serving manufacturing organisation in Nigeria, has released its unaudited interim financial statements for the three months ended 31 March 2021 with 45.74% growth in revenue to N19.426 billion from N13.329 billion.

Despite the revenue growth, the company recorded a loss of N491.996 million for the period down from a profit of N1.114 billion in Q1 2020. Unilever Nigeria’s audited financial statements for the year ended 31 December 2020 with 2.43% increase in revenue to N61.960 billion from N60.489 billion in 2019.

However, it was able to cut its loss for the year to N3.966 billion from N7.420 billion loss in 2019, and it is not also proposing any dividend for the year, as the case for 2019.


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