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Unilever Nigeria Plc has released its Q1 2022 financial report that shows a profit of N1.80 billion, from a loss of N492 million in the corresponding period of 2021.
The company witnessed a persistent increase in prices of goods and services during the period (January to March) thereby resulting in inflationary pressures that affected both consumers and producers.
The Q1 2022 profit was supported by cost management practices as production costs increased by single-digit, despite the food inflation.
Unilever Nigeria Plc had declared a dividend of N0.50 kobo for FY 2021, to be paid on May 6, 2022, while Earnings per share for Q1 2022 is N0.31.
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