Unilever Nigeria’s nine-month profit rises 20% to N26.4bn

Unilever Nigeria Plc has reported a 20 per cent increase in net profit to N26.4 billion for the nine months ended September 30, 2026, as revenue rose to N184 billion despite mounting pressure on consumer spending.

The company disclosed this in its unaudited financial results, showing that net profit increased from N21.9 billion recorded in the corresponding period of 2025.

Revenue grew by 18 per cent from N155.4 billion to N184 billion, while gross profit climbed 34 per cent to N85.5 billion from N63.9 billion a year earlier.

The company’s gross profit margin also improved to 46.4 per cent from 41.2 per cent, while operating profit rose by 27 per cent to N38.5 billion.

Despite the growth in earnings, Unilever Nigeria said consumer demand came under increased pressure in the third quarter as households continued to face constraints on disposable income.

Commenting on the results, the company’s Managing Director, Tobi Adeniyi, said the performance reflected the resilience of its business and the impact of operational discipline, product innovation and improved market distribution.

“Our performance in the first nine months of 2026 reflects the underlying strength and resilience of our business. While consumer demand came under increased pressure in the third quarter as household disposable incomes remained constrained, we stayed focused on delivering value, strengthening availability, executing relevant innovation and maintaining disciplined execution,” Adeniyi said.

He said the company’s focus had supported revenue growth, a 34 per cent increase in gross profit and higher net earnings.

Adeniyi added that Unilever Nigeria was working to strengthen its product portfolio through accessible innovation and targeted brand investment to sustain consumer demand and profitability.

The company also announced an interim dividend of N2 per ordinary share, subject to applicable withholding tax.

According to the statement, the dividend will be paid to shareholders whose names appear on the company’s register of members as of the close of business on October 30, 2026. The total payout is expected to amount to N11.5 billion.

Adeniyi said the company remained committed to investing in its brands, operations and workforce, while focusing on sustainable growth and long-term value creation.

He added that the company would continue to strengthen performance across its product portfolio and respond to changing consumer needs amid economic pressures.