The cost of operation weighed on Unilever Nigeria’s revenue in the first quarter (Q1) of 2023, the firm’s Unaudited Interim Financial Statements showed.
Ripples Nigeria gathered from the financials released on April 22 that Unilever lost 57 per cent of its revenue to cost of production, after spending N14 billion to manufacture its products in Q1 this year.
Unilever produces food products, skincare and oral care brands, fabric care and household cleaning products which cost the company N13.38 billion to manufacture last year’s first quarter.
