By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Stocks > Unilever Nigeria reports significant revenue and profit growth in 2023
Stocks

Unilever Nigeria reports significant revenue and profit growth in 2023

News Room
Last updated: 2024/01/25 at 4:45 PM
By News Room
Share
2 Min Read
SHARE

© Reuters.

LAGOS – Unilever (LON:) 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 accounts, 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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Read the full article here

News Room January 25, 2024 January 25, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
US multinationals on track for minimum tax reprieve after G7 deal

The world’s leading economies have agreed a deal to spare the US’s…

Why is the right so fascinated with fantasy literature?

Stay informed with free updatesSimply sign up to the Politics myFT Digest…

Iran holds funeral procession for top commanders killed in Israeli strikes

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Traders bet on interest rate cuts from Jay Powell’s successor at the Fed

Stay informed with free updatesSimply sign up to the US interest rates…

Israel’s Benjamin Netanyahu weighs his next move after Iran war

After Israel launched its war on Iran, Benjamin Netanyahu seemed to be…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

Playa Hotels & Resorts (NASDAQ:PLYA) Delivers Strong Q4 Numbers By Stock Story

By News Room
Stocks

ON24 (NYSE:ONTF) Posts Better-Than-Expected Sales In Q4 By Stock Story

By News Room
Stocks

Evolent Health shares leap on Q4 earnings beat and upbeat guidance By Investing.com

By News Room
Stocks

Chuy’s (NASDAQ:CHUY) Reports Q4 In Line With Expectations But Stock Drops

By News Room
Stocks

Red River Bancshares raises dividend to $0.09 per share

By News Room
Stocks

Ecolab appoints Microsoft executive to board

By News Room
Stocks

Semilux secures $50 million equity deal with White Lion Capital

By News Room
Stocks

US government debt trajectory to push long-term yields higher, says PIMCO

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?