Unilever Nigeria posts USD 21.6M profit for H1 2026
Revenue grew by 22%, gross profit expanded by 30%, and gross margin improved to 45.6%.
NIGERIA – Unilever Nigeria Plc has reported strong half-year 2026 results, with pre-tax profit rising 20.79% year on year to ₦29.2 billion (USD 21.6 million) from ₦24.154 billion (USD 17.8 million) in the same period of 2025.
Revenue climbed 22.2% to ₦119.92 billion (USD 88.7 million) from ₦98.10 billion(USD 72.5 million), underscoring improved sales momentum across the business.
Gross profit increased to ₦54.74 billion (USD 40.5 million) from ₦42.12 billion(USD 31.2 million), while operating profit advanced to ₦24.36 billion (USD 18.0 million) from ₦18.81 billion(USD 13.9 million).
Profit after tax rose to ₦15.597 billion (USD 11.5 million) from ₦14.51 billion(USD 10.7 million), and earnings per share improved to ₦2.72 (USD 0.020) from ₦2.51(USD 0.019).
Speaking on the results, the Managing Director, Tobi Adeniyi, said, “We delivered a strong first half in a challenging operating environment, marked by geopolitical volatility, rising input costs and pressure on consumer spending.”
“Despite these headwinds, we continued to grow by staying focused on what we can control: serving consumers better, driving optimal distribution via route to market excellence, delivering impactful innovations, and executing with discipline.”
The company’s performance also reflected stronger operational leverage, with one report noting that operating profit surged 72.8% and that Foods revenue was the main growth driver, rising 31.3% and accounting for 64% of total sales.
Export revenue also climbed sharply by 85.8% to ₦2.72 billion (USD 2.0 million), even though Nigeria still accounted for 98% of total sales.
On the cost side, the company said revenue growth outpaced a 16.4% rise in cost of sales, helping lift gross profit.
However, another report noted that bottom-line gains were partly constrained by a ₦1.33 billion (USD 0.98 million) foreign-exchange loss on bank balances, which did not appear in the comparable 2025 period.
Unilever Nigeria also approved an interim dividend of ₦2.00(USD 0.0015) per ordinary share, subject to withholding tax.
The dividend will be paid on 14 August 2026, with shareholders qualifying if their names appear in the register at the close of business on 31 July 2026.
The register will be closed from 3 August to 7 August 2026, inclusive.
Based on approximately 5.75 billion outstanding shares, the dividend is estimated at roughly ₦11.5 billion.
That amount represents about 73.5% of the company’s first-half profit, with dividend cover of around 1.36 times.
Unilever Nigeria shares closed at ₦125.00 (USD 0.092) on 20 July 2026, up 0.8% from ₦124.00 (USD 0.091) the previous session, and ended flat at ₦125.00 (USD 0.092) on 21 July 2026 after the results were released.
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