Unilever Nigeria soars: 44% revenue growth in H1 2024

By MWorld Team Feb 6, 20250

Unilever Nigeria Plc has posted a 44% increase in revenue, recording N149.8 billion in its unaudited interim report for the twelve months ending December 31, 2024. This marks a significant rise from the N103.9 billion turnover reported in the corresponding period of 2023.

The company also reported a 75% surge in gross profit, reaching N55.7 billion compared to N31.9 billion in the same period in 2023. Net profit for the full year 2024 stood at N15.9 billion, an 88% growth from the N8.4 billion recorded in 2023.

Commenting on the results, Tobi Adeniyi, Managing Director of Unilever Nigeria, attributed the company’s sustained growth to its unwavering commitment to serving consumers with high-quality brands that enhance health and hygiene.

“Our year-on-year sustained growth trajectory is a testament to our commitment to serving consumers with our best brands to meet their daily needs of improved health and hygiene,” Adeniyi said.

He further emphasized Unilever’s focus on operational efficiency, cost optimization, and market expansion, stating that the company remains committed to enhancing its socio-economic impact in Nigeria.

As Nigeria’s longest-serving manufacturing company, Unilever Nigeria has been operating for over 100 years and continues to invest in the country through its brands and operations. The company is a key player in the global Nutrition, Oral Care, Beauty & Wellbeing, and Personal Care segments, with products sold in over 190 countries and used by 3.4 billion people daily.

Unilever Nigeria’s product portfolio includes household brands such as Knorr, Royco, Closeup, Pepsodent, Vaseline, Rexona, and Pears.