Unilever Nigeria Plc has reported a pre-tax profit of N13.4 billion for the first quarter of 2026, representing an increase from the N10.7 billion recorded in the corresponding period of 2025.
The company disclosed this in its Q1 2026 financial results released on Thursday, attributing the improved performance to strong revenue growth across its product categories.
Revenue rose to N59.1 billion during the period, marking a 25.96 per cent year-on-year increase from N46.9 billion recorded in the same period last year.
The growth also reflected on the company’s bottom line, as earnings per share increased to N1.22, compared to N0.97 recorded in the corresponding period of the prior year.
A breakdown of revenue shows that the foods segment, including savoury products, remained the company’s largest contributor, accounting for 63.7 per cent of total sales.
Personal care products followed with 26.8 per cent of total revenue, while the beauty and wellbeing category contributed the remaining share.
In monetary terms, the foods segment generated N37.6 billion in revenue, while personal care products contributed N15.8 billion. The beauty and wellbeing segment accounted for N5.6 billion.
Cost of sales increased alongside revenue, rising by 15.77 per cent to N32.5 billion from N28.1 billion recorded in the same period of 2025.
Despite the increase in production costs, gross profit rose significantly to N26.6 billion from N18.8 billion, representing a 41.17 per cent year-on-year growth.
Operating profit also improved, climbing to N11.4 billion, up 38.88 per cent from the previous year.
Operating expenses showed moderate growth during the period. Selling and distribution costs rose slightly to N1.8 billion from N1.7 billion, while marketing and administrative expenses increased to N13.5 billion from N9.08 billion.
The company also recorded an impairment gain of N26.1 million and other income of N295.2 million, largely from promissory notes, which contributed to the overall operating performance.
In addition, Unilever Nigeria posted a net finance income of N1.9 billion, which further boosted profitability and lifted pre-tax profit to N13.4 billion for the quarter.
Following an income tax charge of N6.4 billion, post-tax profit stood at N7.01 billion, representing a 26.43 per cent increase from N5.5 billion recorded in the corresponding period of 2025.
On the balance sheet, retained earnings increased by 14.69 per cent year-on-year to N54.7 billion from N47.7 billion, pushing total equity to N114.4 billion from N107.4 billion.
Total assets expanded to N189.9 billion, compared to N180.1 billion previously, with cash and cash equivalents of N114.4 billion forming the largest component.
Meanwhile, total liabilities rose moderately to N75.5 billion from N72.7 billion, driven largely by trade and other payables, which stood at N44.4 billion.
The results underscore the company’s ability to sustain revenue growth and strengthen profitability despite rising operating costs in Nigeria’s challenging business environment.
