Unilever’s Q1 2012 Earnings Up 8%
Unilever, one of Nigeria’s leading conglomerates and manufacturer’s of Fast Moving Consumer Goods (FMCG) has released its Q1, 2012 Earnings. The company recorded a 7.92% increase in Earnings at N 14 billion at the end of March from N 13 billion the same period last year.
The company’s profit before tax fell compared to the similar period in the foregoing year due to a dramatic reduction in other income. The figure for profit before tax was N 2.1 billion from N 2.35 billion in Q1, 2011.
Net income fell commensurately by 18% to N 1.3 billion from N 1.6 billion in Q1, 2011.
The company increased its investments in fixed assets by 2.47% to N 15.1 billion from N 14.7 billion
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