Unilever Nigeria Plc has recorded a 146.67% profit surge in its profit before tax (PBT) for the first quarter of 2025, reaching N10.7 billion, compared to N4.3 billion recorded in Q1 2024. The impressive growth was driven by strong performance across its food, personal care, and beauty product segments.
According to the company’s unaudited financial statements for the quarter ended March 31, 2025, total revenue surged to N46.9 billion, representing a 45.37% increase from the N32.3 billion posted in the same period of 2024. Food products led the revenue chart with N27.5 billion, followed by personal care products with N15.1 billion, while beauty and wellbeing products contributed N4.3 billion.
Despite a notable rise in the cost of sales, which grew to N28.1 billion from N18.8 billion in Q1 2024—Unilever Nigeria still managed to grow its gross profit to N18.8 billion, up from N13.5 billion recorded the previous year. This indicates improved operational efficiency and effective pricing strategies.
The company also reported an increase in marketing and administrative expenses, which rose by 9.67% to N9 billion from N8.2 billion in Q1 2024. However, this did not slow down its operating profit, which climbed to N8.2 billion in Q1 2025, a 115.18% jump from the N3.8 billion posted in the same quarter of the previous year.
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Finance income also contributed positively, growing by 32.80% to N2.6 billion, largely driven by interest earnings from call deposits and bank accounts. In contrast, finance costs dropped sharply to N172 million, down from N1.4 billion in Q1 2024, further boosting the company’s bottom line.
In terms of balance sheet strength, Unilever Nigeria’s total assets stood at N155.09 billion, reflecting a 9.50% year-on-year increase. Retained earnings also grew significantly by 21.84% to hit N30.9 billion, highlighting the company’s commitment to long-term value creation and shareholder confidence.
Unilever Nigeria’s stellar Q1 2025 performance shows its resilience in the face of economic pressures and its ability to adapt to evolving consumer preferences in the Nigerian fast-moving consumer goods (FMCG) market. With sustained momentum in core product categories and improved financial efficiency, the company is well-positioned for continued growth in the coming quarters.