Unilever Nigeria Plc began 2026 strongly and recorded ₦13.4 billion pre-tax profit in Q1.
This result rose from ₦10.7 billion last year, showing steady earnings growth.
Unilever Strong Revenue Growth
Revenue climbed to ₦59.1 billion, rising 25.96% from ₦46.9 billion in Q1 2025.
Stronger consumer demand across key categories drove this growth.
Food products led performance, especially savoury items, and delivered 63.7% of total revenue.
Personal care followed with 26.8%, while skin care completed the mix.
As a result, higher sales boosted profitability, even though production and operating costs continued rising.
Cost of sales reached ₦32.5 billion as production volumes increased and input costs rose.
Meanwhile, the company raised operating expenses, especially marketing and administrative costs across its operations.
Profitability And Costs
Consequently, gross profit improved to ₦26.6 billion, supported by stronger revenue and a better product mix.
In addition, operating profit rose to ₦11.4 billion, reflecting improved efficiency and stronger sales momentum.
Read Also: Unilever Nigeria Plc Keeps Growth Momentum In Q1 2026
After including finance income and other gains, Unilever achieved ₦13.4 billion pre-tax profit for the quarter.
However, tax charges of ₦6.4 billion reduced final earnings and left post-tax profit at ₦7.01 billion.
Even so, this exceeded ₦5.5 billion recorded in the same period last year.
Earnings per share rose to ₦1.22 from ₦0.97, improving returns for shareholders.
Balance Sheet Strength
On the balance sheet, total assets increased to ₦189.9 billion, mainly driven by strong cash holdings.
Cash and equivalents stood at ₦114.4 billion and formed the largest share of assets.
At the same time, total liabilities rose slightly to ₦75.5 billion due to payables and obligations.
Meanwhile, retained earnings grew to ₦54.7 billion, strengthening the company’s equity base.
Equity rose to ₦114.4 billion, reflecting a stronger financial position and accumulated profits.
Finally, investors monitored the results closely as trading opened on 23 April 2026.
As a result, the stock recorded strong year-to-date gains and reflected continued investor confidence.
