Lagos, Nigeria – Unilever Nigeria Plc has reported a significant boost in profit before tax (PBT) for the first quarter of 2025, rising by 146.67% to N10.7 billion, compared to N4.3 billion recorded in the same period of 2024.
The surge in profitability was driven by strong performance across the company’s core product categories—food, personal care, and beauty & wellbeing—as outlined in its unaudited financial results for the quarter ended March 31, 2025.
Total revenue for the quarter reached N46.9 billion, marking a 45.37% increase from N32.3 billion in Q1 2024. Food products were the largest contributor, generating N27.5 billion, while personal care products added N15.1 billion, and beauty & wellbeing products brought in N4.3 billion.
Profitability Rises Despite Higher Operating Costs
Despite a rise in the cost of sales to N28.1 billion (up from N18.8 billion in Q1 2024), Unilever’s gross profit climbed to N18.8 billion, up from N13.5 billion in the previous year.
The company also reported a 9.67% increase in marketing and administrative expenses, which totaled N9 billion, compared to N8.2 billion a year earlier.
Operating profit jumped 115.18% year-on-year to N8.2 billion, while finance income rose by 32.80% to N2.6 billion, primarily from interest on call deposits and bank balances. Meanwhile, finance costs dropped significantly to N172 million, down from N1.4 billion in Q1 2024.
Asset Growth and Strong Retained Earnings
Unilever’s total assets grew by 9.50% to N155.09 billion, while retained earnings rose by 21.84%, reaching N30.9 billion. These figures reflect improved operational efficiency and a more robust financial position heading into the rest of the fiscal year.
With strong sales momentum and efficient cost management, Unilever appears well-positioned to sustain growth through 2025.
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