NewStats: 3,264,403 , 8,183,613 topics. Date: Tuesday, 10 June 2025 at 10:26 PM u655y

LAGOS - Unilever (LON:ULVR) Nigeria Plc has announced a robust financial performance for the year 2023, with its revenue and profits after tax both showing substantial increases. The consumer goods company's revenue surged to ₦97.43 billion, a notable rise from ₦64.64 billion in the previous year. In line with this, profits after tax also climbed to ₦8.54 billion, up from ₦4.47 billion, reflecting a healthy growth trajectory for the firm.

Despite these positive developments, Unilever Nigeria faced some challenges, including a loss of ₦3.73 billion from discontinued operations. Additionally, the company's operating cash flow experienced a downturn, decreasing to ₦2.69 billion. However, these setbacks were offset by a significant increase in finance income, which reached ₦17.13 billion. This boost in finance income was largely due to earnings from interest on call deposits and bank s, as well as a promissory note discount connected to the Federal Government Export Expansion Grants, which contributed to the company's overall financial gains.

The earnings per share (EPS) for Unilever Nigeria also reflected the company's positive performance, indicating growth that aligns with the increases in revenue and profit.

https://m.ca.investing.com/news/stock-market-news/unilever-nigeria-reports-significant-revenue-and-profit-growth-in-2023-93CH-3235374?ampMode=1

The have good economic team that knows how to do business in this istration

If they reported significant revenue in 2023, then I guess the reason why they are backing out of soap and some products is because they can't stand the competition.... OMO doesn't exist again Cox it been long I saw it..

The way the current Nigeria is going, any company that will survive must be ever dynamic and ever updated.. If you slack, any company will take over your market share and leave u with peanut share of the market.

Peak milk and 3 crown has to create the smaller version of Hollandia milk so as to accommodate the poor masses who still love their products but can't afford the tin 🥫


Nevertheless, I am still disappointed with this government.... This is not what we expected but I hope things go well in the end...

The hope of the common man is the government

jkpbestseries:
The have good economic team that knows how to do business in this istration

So others don't have?

Nigeria will humble your economic and ing skills

Keep deceiving urselves

Good for them. Why then are the other news headlines focusing on the loss from skincare products when overall, they are still in profit?

Propaganda, wetin remaining for Unilever,

Were they not the one shutting down some of their products like Lux and Omo.

Does shutting down departments in Unilever make them make gains in the Nigerian exchange?

omoredia:
Keep deceiving urselves

why do you like bad news?,
There is no way you are an adult that has sense. Do you know that this company pays devidends to shareholders?, if they are lying, where will they see the equivalent money to pay to their share holders as claimed in their report? I doubt you understand anything I said cos you obviously never owned any investment. Run off kiddo

dadavivo:
Propaganda, wetin remaining for Unilever,

Were they not the one shutting down some of their products like Lux and Omo.

Does shutting down departments in Unilever make them make gains in the Nigerian exchange?

Another kid. Google, apple, Facebook etc all laid off workers l as t year and closed some of their businesses. That they stopped producing Omo does not mean they do not have alternatives for consumers. Stop commenting on a topic that is above your intellectual level. Go and comment in romance section

Only the smart will read this and key into the imminent opportunities presented by this news, while cry babies and zombies, would continue to wail

G

Reading…

Tilumbu government no dey favor anybody..

That profit is not generic, because you cannot be profitable and be closing down at the same time. No doubt only the seriously deep pocketed and widely diversified will survive the economic policies of this istration

Why then are they leaving ?

Competition too stiff?

Business growth is not easy so this is very commendable

This is not enough to cover up for the multinational companies that have exited this country due to abysalm and obnoxious economic polices of APC-led government,APC has done alot of havoc to Nigeria's economy in less than 10years of governance.

This is good. Hopefully, the government will be able to stop the hyper inflation and stabilize the exchange rate so that the naira doesn't get devalued at a rate that will make companies actually be at loss even if they had achieved profit ie Naira profit yet Dollar loss.

Jagaban doings

I thought they recorded a loss..

Kaa4:
That profit is not generic, because you cannot be profitable and be closing down at the same time. No doubt only the seriously deep pocketed and widely diversified will survive the economic policies of this istration

A business not being profitable as a result of poor economic policies is different from being eclipsed by competition. As is clear here, the company realised that they stand no chance. Hence, their decision to pull out.

Read the second paragraph carefully to see that the company is not doing well at all.

Their increased income is not due to their production or sales but due to promissory notes and "fixed depositis".

Let's stop deluding ourselves.

Gilgil:
Read the second paragraph carefully to see that the company is not doing well at all.

Their increased income is not due to their production or sales but due to promissory notes and "fixed depositis".

Let's stop deluding ourselves.

Are you minding these APC propagandists, I read it too

Unilever Nigeria faced some challenges, including a loss of ₦3.73 billion from discontinued operations. Additionally, the company's operating cash flow experienced a downturn, decreasing to ₦2.69 billion. However, these setbacks were offset by a significant increase in finance income, which reached ₦17.13 billion. This boost in finance income was largely due to earnings from interest on call deposits and bank s, as well as a promissory note discount connected to the Federal Government Export Expansion Grants, which contributed to the company's overall financial gains.

Ok

Significant profit by increasing the price of its products ambiguously? We learnt that some of its products are now off the market, don't worry, competitors will come for those ones in market and soon they will be off the market completely if they continue this way.

The companies that left, how were they running their businesses or what activities did Unilever indulge in ?

HardMirror:
why do you like bad news?,
There is no way you are an adult that has sense. Do you know that this company pays devidends to shareholders?, if they are lying, where will they see the equivalent money to pay to their share holders as claimed in their report? I doubt you understand anything I said cos you obviously never owned any investment. Run off kiddo



Another kid. Google, apple, Facebook etc all laid off workers l as t year and closed some of their businesses. That they stopped producing Omo does not mean they do not have alternatives for consumers. Stop commenting on a topic that is above your intellectual level. Go and comment in romance section

Unilever is a dying company

Wait o. Is it that same Unilever that announced that they will stop the production of some household products like LUX ?
What do i believe?

So why did they leave?

Good thinking
Good result...

bionixs:
Wait o. Is it that same Unilever that announced that they will stop the production of some household products like LUX ?
What do i believe?

My brother, I confuse