Unilever Nigeria Plc has reported a strong financial performance for the year ended December 31, 2024, with revenue (turnover) reaching N149.8 billion, a 44% increase from N103.9 billion in 2023.
The company also recorded a gross profit of N55.7 billion, up 75% from N31.9 billion in 2023, driven by operational efficiency and increased market share.
Key Financial Highlights (2024 vs 2023)
•Revenue: N149.8 billion (+44% YoY)
•Gross Profit: N55.7 billion (+75% YoY)
•Net Profit: N15.9 billion (+88% YoY)
Strong Profit Growth and Business Expansion
•Unilever Nigeria’s net profit rose by 88% to N15.9 billion, compared to N8.4 billion in 2023.
•The company attributes its consistent growth to cost optimization, operational efficiency, and increased consumer demand for its brands.
•According to Managing Director, Tobi Adeniyi, Unilever remains committed to expanding its impact in Nigeria by investing in its brands and operations.
Unilever’s Legacy and Future Growth
As Nigeria’s longest-serving manufacturing company, Unilever has operated in the country for over 100 years. With its strong financial performance in 2024, the company is well-positioned for further growth and expansion in the years ahead.
