Unilever Nigeria Plc has announced a 600.92% growth in profit after tax for the third quarter ended September 30, 2016.
According to the Nigerian Stock Exchange (NSE), the company’s net earnings for the nine months stood at N388.229m as against N55.388m. This represents an increase of 600.92% from 2015.
Pre-tax profit also stood at N175.065m during the period under review. It moved up from N107.295m posted last year, accounting for 63.16%.
The company’s revenue grew by 25.38% to N17.593bn in 2016 from N13.977bn during the third quarter of 2016.
Continued Growth: Second Quarter
Earlier, Unilever Nigeria had recorded a 27.84% growth in profit after tax for the half year ended June 30, 2016.
The company’s net earnings for the half year stood at N1.094bn as against N85.573m posted in 2015 for an increase of 27.84%.
Pre-tax profit also stood at N1.487bn, from N94.070m posted a year earlier, accounting for 58.07%.
The company’s revenue grew by 12.38% from N28.721bn in 2015 to N32.277bn during the second quarter of 2016.
Unilever Nigeria’s first quarter 2016 profit after tax had grown by 76.30% to N1.041bn from N590.448m recorded a year earlier.
The company’s pre-tax profit also increased by 64.09% from N864.742m in 2015 to N1.419bn during the period under review.
Also, the company’s revenue grew by 12.55% from N14.910bn to N16.782 billion during the first quarter of 2015.
Unilever Nigeria full year 2015 profit after tax had dropped 51% to N1.192bn from N2.412bn recorded a year earlier.