Highlights
- Declared an interim dividend of N2.00 per share.
- Revenue increased by 19% YoY from ₦51.13 billion in Q2 2025 to ₦60.75 billion in Q2 2026.
- Gross profit increased by 21% YoY from ₦23.26 billion to ₦28.12 billion, with gross margin remaining broadly stable at about 46%.
- Operating profit increased by 24% YoY from ₦10.14 billion to ₦12.61 billion.
- Profit after tax declined by 3% YoY from ₦8.85 billion to ₦8.58 billion.
Outlook
Going forward, the Foods segment should remain the main contributor to the revenue growth, given its significant contribution relative to total revenue (64% as at H1 2026). However, the continued growth of Personal Care and Beauty & Wellbeing is also encouraging, as it opens the company to a more diversified revenue source.
We also expect continued investment in brands and marketing to support revenue growth, although this is likely to keep operating expenses high in the near term, coupled with the elevated global energy prices that might add pressure to input costs. However, the Q2 result evidenced that the company is currently able to absorb these costs without significant pressure on operating margins. On dividends, we expect the company to maintain its strong dividend payout. For reference, the company declared an interim dividend of ₦2.00 per share in H1 2026, which represents a payout of 74% of total earnings.
Please follow the link “Unilever Nigeria Plc Q2 2026 – Higher Costs Put Pressure on Bottom-Line Growth” to view the whole report.
Thank you.
