RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Unilever Plc Revenue Hits N27.4 Billion In the Third Quarter of 2023

Stephen Akudike by Stephen Akudike
October 23, 2023
in Business, company news, Markets, Money Market
Reading Time: 2 mins read
A A
0
Unilever Plc Revenue Hits N27.4 Billion In the Third Quarter of 2023
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Unilever Plc has revealed significant improvements in its financial performance compared to the same period in the previous year. The statement of profit or loss and other comprehensive income for the three months ending on September 30, 2023, and September 30, 2022, portrays a positive trend in the company’s operations.

Key Financial Highlights

AlsoRead

Petrol Imports Soar to ₦436bn as Tensions Mount Between Marketers and Dangote Refinery

Nigerian Stock Market Climbs as Investors Pocket ₦614 Billion in One Week

Nigerian Stock Market Rallies as NESTLE, HONEYFLOUR Lead Gainers

– Revenue: Unilever reported a notable increase in revenue, reaching N27,371,096,000 for the third quarter of 2023. This figure represents a substantial growth compared to N20,962,074,000 for the same period in 2022.

– Gross Profit: The company’s gross profit for Q3 2023 stood at N6,312,125,000, marking a substantial rise from N2,980,979,000 recorded in Q3 2022. This increase in gross profit reflects a more efficient cost management strategy and improved sales performance.

– Operating Profit: Unilever achieved an operating profit of N446,684,000 in the third quarter of 2023, a significant turnaround from the operating loss of N2,607,201,000 in the same period last year. The positive operating profit is indicative of the company’s efforts to enhance its operational efficiency and cost control.

– Finance Income: The company’s finance income for Q3 2023 reached N977,435,000, showing substantial growth from N430,404,000 in the same period in 2022. This increase suggests improved investment returns and financial management.

– Earnings per Share: The earnings per share (EPS) for profit attributable to equity holders showed a positive trend, with basic and diluted EPS standing at (N0.19) in Q3 2023, compared to (N0.39) in Q3 2022. The reduction in the loss per share is a positive sign for shareholders.

– Loss for the Period: While Unilever posted a loss of N1,091,792,000 in Q3 2023, this is a substantial improvement compared to the N2,254,671,000 loss recorded in the same period last year. The reduction in losses demonstrates the company’s ongoing efforts to enhance its financial performance.

– Taxation: The company reported taxation expenses of N1,481,092,000, reflecting a significant increase from N251,017,000 in Q3 2022. The change in tax expenses can be attributed to improved profitability and changes in tax regulations.

Outlook and Future Prospects

The financial report for the third quarter of 2023 indicates a positive shift in Unilever’s financial performance. The increase in revenue, gross profit, and operating profit, along with a reduction in losses, suggests that the company is on a path of recovery and growth. Improved cost management and increased revenue generation have contributed to these positive results.

Unilever remains committed to enhancing its operational efficiency and financial stability, which is reflected in its improved earnings per share and reduced losses. As the company continues to adapt to market dynamics and changes in the business environment, shareholders and stakeholders can look forward to a more promising future.

The management of Unilever remains optimistic about the company’s prospects and is determined to build on these positive results in the coming quarters. The financial community eagerly anticipates further updates on Unilever’s performance and its journey toward sustained profitability.

Tags: Business newscost managementearnings per sharefinance incomefinancial performanceFinancial ReportFinancial Stabilitygross profitOperating ProfitQ3 2023revenue growthTaxation
Previous Post

WEMA Bank Job Opening: Head of Credit

Next Post

Yen Weakens Beyond 150 Against the Dollar, Raising Concerns of Currency Intervention

Related News

Fuel scarcity bites harder in Lagos.

Petrol Imports Soar to ₦436bn as Tensions Mount Between Marketers and Dangote Refinery

by Akpan Edidong
May 20, 2025
0

Nigeria’s downstream oil sector is facing renewed tension as independent fuel marketers ramp up petrol imports worth over ₦436 billion...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

Nigerian Stock Market Climbs as Investors Pocket ₦614 Billion in One Week

by Jide Omodele
May 19, 2025
0

The Nigerian equity market posted strong gains last week, adding ₦614 billion in market capitalisation, as investor confidence rebounded after...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

Nigerian Stock Market Rallies as NESTLE, HONEYFLOUR Lead Gainers

by Rate Captain
May 16, 2025
0

The Nigerian stock market posted solid gains on Wednesday, May 15, 2025, with the benchmark All-Share Index (ASI) advancing by...

CBN Supplies $29.5 Million at FX Auction as Naira Depreciates at I&E Window.

CBN Bolsters Non-Oil Export Strategy Amid Oil Price Slump

by Jide Omodele
May 16, 2025
0

With global crude oil prices dipping below expectations, the Central Bank of Nigeria (CBN) has intensified efforts to diversify the...

Next Post
Yen Weakens Beyond 150 Against the Dollar, Raising Concerns of Currency Intervention

Yen Weakens Beyond 150 Against the Dollar, Raising Concerns of Currency Intervention

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

BTC’s Price Rises as Market Reacts to the Fed hawkish move.

Bitcoin Nears Record High as JPMorgan, Strategy, and Ukraine

May 20, 2025
Naira appreciated to N738/$ in the Parallel Market

Naira Strengthens Slightly to ₦1,597/$ Ahead of Key CBN Policy Meeting

May 20, 2025

Popular Story

  • Fair Money Job Opening: Regional Sales Manager

    Fair Money Job Opening: Regional Sales Manager

    0 shares
    Share 0 Tweet 0
  • CBN Cuts Federal Government Loans by Over ₦4 Trillion Amid Fiscal Reforms

    0 shares
    Share 0 Tweet 0
  • Access Bank Reports ₦289 Billion in Mortgage Loans, Making Up 2.3% of Total Lending Portfolio

    0 shares
    Share 0 Tweet 0
  • Petrol Imports Soar to ₦436bn as Tensions Mount Between Marketers and Dangote Refinery

    0 shares
    Share 0 Tweet 0
  • eNaira Accounts for Less Than 1% of Circulating Currency

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
View preferences
{title} {title} {title}
?>