Unilever Nigeria profit hits N1.19b

Unilever Nigeria has recorded Profit After Tax (PAT) of N1.19billion in the forth quarter of 2015, as against the N141 million it posted at the close of trading in the third quarter.

The company also recorded a turnover of N59.2 billion for the year ended 31 December ,2015, representing a 6.2 per cent growth in turnover from the N55.7 billion it grossed for the year ended 31 December, 2014.

The fourth quarter results for the company showed extraordinary recovery across major indices. Stand-alone results for Q4 reflect turnover growth of 36.3 per cent in Q4 2015 (Q4 2014: N12.12 billion, Q4 2015:N16.52 billion) Profit after tax for the full year dipped by 51 per cent from N2.4 billion in 2014 to N1.19 billion in 2015. However, Q4 2015 standalone results show an increase of 78.3 per cent in PAT (Q4 2014: N590 million, Q4 2015:N1.05 billion)

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