This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEB7Q0U9_M.jpg
The company’s interim report for Q1-Q3 2023 reveals a notable financial recovery, as it managed to turn around a loss of N0.3 billion in 2022 into a profit of N1.7 billion from continuing operations this year. This is in line with the InvestingPro Tip indicating that the company has been profitable over the last twelve months and analysts predict continued profitability this year.
Attributing this success to the company’s commitment to the 4G growth model and operational efficiency, Managing Director Tim Kleinebenne stated that Unilever Nigeria is steadily increasing its market share across key categories.
The longest-serving manufacturer in Nigeria, Unilever remains dedicated to cost optimization and promoting health and hygiene through its purposeful brands. This commitment is reflected in the company’s high return on assets of 10.94%, as per InvestingPro’s data, highlighting its efficient use of resources to generate earnings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
