FY 2020 Audited Report: Unilever Nigeria Records 2% Growth in Turnover

April 1, 2021/Proshare

By Unilever Plc 

Image Credit: Unilever

Unilever Nigeria Plc released its audited report for the year ended 31st December 2020. The Company recorded Turnover of N61.9 billion in the year under review which represents 2% topline growth compared to N60.4bn Turnover recorded in the corresponding year in 2019.

The result showed that the company recorded a gross profit of N12.8bn for the year ended 31st December 2020, this represented a 169% increase in gross profit relative to gross loss of N4.7bn reported for the year ended 31st December 2019.

Overall, loss after tax for the year ended 31st December 2020 reduced by 53% to N4.0bn from the loss after tax of N7.4bn reported for the prior year in 2019.  

Speaking on the results, The Corporate Affairs and Sustainable Business Director, ‘Soromidayo George, stated that even though 2020 was a year of significant disruptions and volatilities impacting the operating environment, Unilever Nigeria continues to build its resilience to navigate the impact of headwinds.

Mrs. George added that the company remains focused on its strategy to deliver sustainable growth both in the medium and long-term riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories.

“We continue to monitor the business environment and respond appropriately to volatilities in the operating environment as well as disruptions from the Covid-19 pandemic.” She said.

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