Unilever Nigeria Posts Pre-tax Profit Of N13.4bn In Q1

Unilever Nigeria Plc has reported a pre-tax profit of N13.4 billion in the first quarter (Q1) ended March 31, 2026.

The Company’s results released on the Nigerian Exchange (NGX) showed that profit before tax moved from N10.7 billion in Q1 2025 to N13.4 billion in 2026, while net profit grew by 26 per cent to N7.0 billion.

The improvement was driven by a strong top line, with revenue rising to N59.1 billion, marking a 25.96 per cent increase from N46.9 billion recorded in the same period last year.

Of total revenue, Foods, including savoury products, accounted for 63.7 per cent of sales, followed by personal care products at 26.8 per cent, while skin care products contributed the remaining share. This performance extended to the bottom line, as earnings per share increased to N1.22, compared to N0.97 recorded in the corresponding period of the prior year.

Cost of sales up by 15.77 per cent to N32.5 billion from N28.123 billion in the corresponding period of 2025, while gross profit grew by 41.17 per cent to N26.6 billion from N18.853 billion in 2025.

Speaking on the performance, the managing director, Unilever Nigeria, Tobi Adeniyi, stated, “our Q1 2026 results represent a strong start to the year and a clear signal that the momentum we delivered in 2025 is being sustained. Growth in the quarter was driven primarily by increased volume, underpinned by innovation and strong marketplace execution. This performance reflects our continued operational discipline and commitment to delivering sustainable value.”

He added, “we will continue to elevate the consumer experience while reinforcing a ‘play-to-win’ culture where we focus on winning with Nigerians, strengthening the proposition & desirability of our brands, and executing with speed & excellence across all categories.”

Unilever is one of the world’s leading suppliers of Personal Care, Beauty & Wellbeing, and Foods products, with sales in over 190 countries and products used by 3.4 billion people every day. Unilever Nigeria is a locally listed business that has been operating for over 100 years selling brands such as Closeup, Pepsodent, Vaseline, Rexona, Knorr, Royco and Pears.