Unilever Nigeria Declares N62bn Turnover In 2020

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Unilever Nigeria Plc has declared a turnover of N62 billion for the financial year ended December 2020.

Also, the board assured shareholders of its commitment to good corporate governance to drive sustainability and efficiency across the company’s operations.

The chairman of the firm and the Obi of Onitsha, His Royal Majesty, Igwe Nnaemeka Achebe, while speaking at the Unilever’s 96th annual general meeting (AGM) in Lagos, commended the shareholders for their trust and loyalty to the firm despite the challenges posed by the COVID-19 pandemic in the year under review.

He added that the company would remain strategic in its approach to attaining sustainable growth and profitability. According to the company’s financial report, there was a 2.4 per cent year-on-year increase in revenue from N60.8 billion to N62 billion in the year under review.

The increase was driven by 7.3 per cent year-on-year growth in its food products, which was slightly offset by a three per cent revenue drop in the home and personal care segments. These results reflect a challenging operating environment

Speaking on the results, Achebe stated that even though 2020 was a year of significant disruptions and volatilities impacting the operating environment, Unilever Nigeria continues to build its resilience to navigate the impact of headwinds.

He added that the company remains focused on its strategy to deliver sustainable growth both in the medium and long-term riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories.

 

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