By Modupe Gbadeyanka
Unilever Nigeria Plc has released its unaudited interim financial statements for the six months ended June 30, 2017.
Highlights of the results showed that the company increased its profit by 236 percent in the period under review.
Specifically, Unilever Nigeria posted a profit after tax of N3.7 billion in the first half of 2017 versus N1.1 billion declared in the corresponding period of 2016.
Also, the company’s profit before tax stood at N5.04 billion in the first half of the year in contrast to N1.49 billion achieved 12 months ago.
The growth recorded by the firm during the first six months of the year also spread to its total turnover, increasing to N45.1 billion from N32.3 billion a year ago.
In the financial statements, the firm noted that as at June 30, 2017, its unhedged financial assets and liabilities amounted to N13.9 billion against N10 billion in the corresponding period of 2016, while cash held in bank was N15.1 billion compared with N12.5 billion a year ago.
Dipo Olowookere 
Adedapo Adesanya