Unilever Nigeria's net profit rose by about 20% in the nine months to September compared with a year earlier, helped by stronger food sales, Premium Times reports.
Revenue grew to N184 billion from N155.4 billion, with the food business, which includes Lipton and Knorr, now making up about two-thirds of turnover. Almost all sales were in Nigeria. Cost of sales fell as a share of revenue, though marketing and administrative spending rose by more than a third.
Profit before tax rose to N45.6 billion and after-tax profit to N26.4 billion, up from N22 billion. The company also declared an interim dividend of N2 per share, four times last year's half-year payout, worth about N11.5 billion in total and due to be paid on 18 November.
Source: Premium Times
