Business & EconomyNews
Updated: April 22, 2020
Unilever Nigeria Records 26.8% PAT decline in Q1 2020 Unaudited Results
Unilever Nigeria Records 26.8% PAT decline in Q1 2020 Unaudited Results
By
Brand Spur
April 18, 2020
Unilever Nigeria Records 26.8% PAT decline in Q1 2020 Unaudited Results
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Manufacturer and marketer of home and personal care products, Unilever Nigeria Plc, did not have it good in the first quarter of 2020, results of the company’s performance revealed.
Revenue declined by -30.7% to N13.3bn from N19.2bn in the previous quarter.
Profit before tax declined by 53.2% to N948m.
Profit after tax declined by 26.8% to N1.1bn.
Net Assets grew by 1.7% to N67.6bn from N66.5bn.
The Company recorded a turnover of N13.3 billion in the period under review. This represents a 46% increase compared to the previous quarter 4 2019 and a 30.7% decline compared to N19.2bn recorded for the corresponding period, Q1 2019.
Likewise, the result shows the company also recorded a profit after tax of N1.1bn for the period ended 31st March 2020 representing a 27% decline when compared to N1.5billion recorded for the period ended 31st March 2019.
In the period under review, Profit before tax declined by 53.2% to N948m.
Source:
Brand Spur