Unilever Nigeria Swings to Profit in Q3 as Revenue Rises

Unilever Nigeria Plc reported a profit before tax of N389.3 million in the third quarter of this year, compared with a loss before tax of N2.51 billion in the same period in 2022.

The company’s revenue rose to N27.37 billion from N20.96 billion, its unaudited financial statements show.

Its loss after tax narrowed to N1.09 billion from N2.25 billion.

Unilever announced on March 17, 2023 to exit the home care and skin cleansing category.

It said the production for home care category ceased in June and sales ceased in September. “The production and sale for skin cleansing category has been extended to December 2023,” it added.