Economy
Q1’20: Unilever Nigeria Revenue Drops Despite Rise in Marketing Costs
By Dipo Olowookere
The decision of the management of Unilever Nigeria Plc to increase the amount spent for branding and marketing of its products in the first quarter of 2020 for better turnover did not yield the expected results.
This is because despite the spike in the marketing and administrative costs, the revenue generated by the company in the period under review was lower than the corresponding period of 2019.
In its financial statements for the period ended March 31, 2020 released by the board over the weekend, the revenue raked by Unilever Nigeria dropped to N13.3 billion from N19.2 billion in the same time of last year.
This was mainly impacted by lower turnover generated from its operations within the country.
An analysis of the earnings by Business Post showed that the revenue generated within Nigeria was N12.4 billion versus N19.1 billion in the corresponding period of last year. However, its operations from outside Nigeria recorded an improvement, growing to N283.5 million from N165.1 million in Q1 2019.
A further scrutiny of the results showed that the turnover from its food products depreciated to N7.4 billion in Q1’20 from N9.3 billion in Q1’19, while its home and personal care products suffered a decline in the first three months of this year to N5.9 billion from N10.0 billion in the same time of last year.
A look at the cost of sales showed a reduction to N9.9 billion from N15.4 billion, while the gross profit slightly fell to N3.4 billion from N3.9 billion, with selling and distribution expenses reducing to N617.7 million from N859.5 million.
The marketing and administrative expenses jumped to N2.3 billion from N1.5 billion as a result of increase in brand and marketing (N800.7 million versus N383.2 million in Q1’19), rise in overheads (N1.3 billion from N656.0 million) and drop in service fees (N215.2 million versus N478.7 million in Q1 2019).
Unilever Nigeria said it had an impairment loss on trade receivables of N49.2 million in the first quarter of this year as against N200.4 million in the first three months of 2019.
Also, it recorded N21.7 million for other income in the period under review in contrast to N26.3 million in the same time of last year. This was mainly from the gain on sale property plant and equipment as well as transitional service agreement income.
The company said it had an operating profit of N453.5 million in Q1 2020 compared with N1.3 billion in Q1 2019 and a finance income of N495.6 million, lower than N803.9 million in the first quarter of last year, with the finance costs at slightly above half a million compared with N94.4 million in Q1’19.
Unilever Nigeria said while its profit before tax stood at N948.5 million versus N2.0 billion in Q1 2019, its profit after tax closed at March 31, 2020 at N1.1 billion as a result of a tax credit of N166.0 million. In the same period of last year, the post-tax profit of the firm was N1.5 billion.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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