Unilever Nigeria Plc has reported increase in sales of food, personal care, and other products in the first quarter of 2025 (Q1’25) leading to a 146.67% increase in its profit before tax (PBT) of N10.7 billion compared to N4.3 billion recorded in the same quarter of 2024 (Q1’24).

This was revealed in the company’s financial results for the first quarter ended March 31, 2025. The results showed that total revenue for Q1’25 was N46.9 billion, up 45.37% from N32.3 billion a year earlier, food products accounting for N27.5 billion, while personal care products generated N15.1 billion, and beauty & wellbeing products contributed N4.3 billion.

The company, however, noted that the cost of sales rose to N28.1 billion, up from N18.8 billion in Q1 2024. Despite this spike, gross profit increased to N18.8 billion, compared to N13.5 billion in the previous year.

Marketing and administrative expenses increased to N9 billion, which is a 9.67% rise from N8.2 billion in Q1 2024.

Operating profit improved to N8.2 billion, a 115.18% increase from N3.8 billion in the prior year, while finance income increased by 32.80% to N2.6 billion, largely due to interest from call deposits and bank accounts. However, finance costs reduced to N172 million from N1.4 billion in Q1’24.

The company’s total assets amounted to N155.09 billion, reflecting a 9.50% year-over-year increase, while retained earnings rose by 21.84%.to N30.9 billion.