Unilever Nigeria Plc has released its financial results for the first quarter of 2026, showing a solid improvement in performance compared to the same period last year. The company reported a pre tax profit of N13.4 billion, rising from N10.7 billion recorded in the first quarter of 2025, reflecting steady growth in its operations.
The increase in profit was largely driven by higher revenue, which climbed to N59.1 billion. This represents a 25.96 percent rise from N46.9 billion posted in the corresponding period of the previous year. The company’s strong top-line performance highlights growing demand for its products despite economic pressures. A closer look at the revenue breakdown shows that food products played the biggest role in driving sales.
This category, which includes savoury items, contributed 63.7 percent of total revenue. Personal care products followed with 26.8 percent, while beauty and wellbeing products made up the remaining share. This indicates that everyday food items continue to be the company’s strongest revenue source. In terms of profitability, Unilever also recorded improvements across key financial indicators. Gross profit rose significantly to N26.6 billion, up from N18.8 billion in the same period last year. Operating profit increased to N11.4 billion, showing a strong year-on-year growth. These gains reflect both higher sales and improved efficiency in managing production costs.
However, the company also faced rising expenses. The cost of sales increased to N32.5 billion as production costs moved in line with higher revenue. In addition, marketing and administrative expenses rose sharply to N13.5 billion, compared to N9.08 billion recorded in the previous year. Despite these higher costs, the company was still able to maintain strong profit growth. Other income sources also supported the company’s performance. Unilever recorded additional earnings from impairment gains and promissory notes, which helped boost its overall operating profit. It also posted a net finance income of N1.9 billion, further strengthening its earnings position. After accounting for taxes, the company reported a post tax profit of N7.01 billion, up from N5.5 billion in the same period last year. Earnings per share also improved, rising to N1.22 from N0.97, indicating better returns for shareholders.
Looking at its financial position, Unilever’s total assets increased to N189.9 billion, showing expansion in its overall business size. Cash and cash equivalents remained a major part of its assets, reflecting strong liquidity. Meanwhile, total liabilities rose slightly to N75.5 billion, mainly due to higher trade payables. On the equity side, retained earnings grew to N54.7 billion, supporting an increase in total equity. This suggests that the company is reinvesting profits to strengthen its financial base and support future growth. The market is expected to react to these results as investors assess the company’s performance.
Ahead of the release, the company’s stock was priced at N110 per share, reflecting a strong year to date gain of over 50 percent. Overall, the results show that Unilever Nigeria is maintaining strong growth momentum, with its food segment continuing to lead sales and drive profitability.
