We’re committed to sustainable growth, says Unilever

Unilever Nigeria Plc says it remains committed to sustainable growth and resilience, even under the current depressed economic conditions. The firm, which recently released its audited results for the year ended December 31, 2016, posted a N69 billion turnover, with a leap in profit after tax from its 2015 position of N1.19 billion to close the year with PAT of N3.07 billion.

It said this in a statement released on Monday. Its result showed a 17.8 per cent increase in turnover from N59 billion in December 2015 to N69 billion in December 2016. The company explained that a significant portion of the growth was from volume increase.

Its cost of sales increased by 29.6 per cent from N38 billion for the period ended December 31, 2015 to N49 billion for the year ended December 31, 2016 reflecting rising costs particularly in raw material costs that were significantly exposed to foreign currency volatility.