Unilever Nigeria Posts Strong Revenue Growth In 1Q 2016

Unilever Nigeria reported revenue grew 12 percent to N16.78 billion in the first quarter of 2016, compared with N14.9 billion in the same quarter of 2015. Profit after tax jumped 76 percent to N1.05 billion from N590 million, while profit before tax rose 64 percent to N1.42 billion from N860 million. Gross profit grew to N6.03 billion from N5.06 billion in 2015, the company said. Gross margin improved by 33.95 percent in 2015 to 33.95 percent in 2016, while EBIT margin rose from 10.88 percent in 2015 to 11.37 percent.