Unilever Nigeria returns to profit, posts N1bn in Q2

Unilever Nigeria Plc has reported a profit before tax of N1.04 billion for the second quarter of the 2021 financial year, compared with a loss before tax of N1.52 billion in the same period last year.

The company posted a profit after tax of N1.21 billion in the three-month period ended June 30, 2021, compared with a loss after tax of N1.63 billion in the same period a year ago.

Its revenue rose to N19.72 billion from N14.01 billion in Q2 2020, according to its unaudited financial statements released on Friday.

Unilever Nigeria said during the year, its management committed to a plan to sell part of its manufacturing facility within the Home and Personal Care segment.

“Accordingly, part of that facility is presented as assets held for sale at the carrying amount of N262 million. Efforts to sell the disposal group have reached an advanced stage and sale is expected by July 2021,” it added.