NIGERIA – Unilever Nigeria Plc has achieved a turnover of N16.78 billion for the first quarter of 2016, representing a 12.5 per cent increase over the N14.9 billion figure posted for the corresponding period of last year.
A further breakdown of the scorecard showed that the company recorded a N1.04 billion profit after tax (PAT) as against the N590 million it got in 2015, indicating a 76 per cent growth.
During the period under review, the cost of sales slightly leaped by 9.1 per cent from N9.8 billion to N10.7 billion.
However, the net finance depreciated by 35 per cent from N757 million to N488 million in the period covering January to March this year.
In a statement, the firm while assuring stakeholders of continued focus on key business drivers to ensure sustained growth in its operations to improve returns on investments, noted that: “Although the challenges in the operating environment are yet to ease, we have continued to see momentum behind recent initiatives taken by management.
“We will continue to focus on driving cost efficiencies, growing market share across key categories and reinvesting behind our brands.”
The management added that it was equally addressing the issue of finance costs through a number of initiatives and efforts with a view to sustaining the impressive result.