Unilever record N165.41 million operating loss in 2021 first quarter

Unilever Plc recorded an operating loss of N165.41 million in the first quarter of 2021 despite revenue rising above the N13.32 billion generated during the corresponding period in 2020.

It was learnt that revenue rose to N19.42 billion within the three months of this year, surpassing the N13.32 billion of last year, the company's financial statement disclosed to investing public.

According to the earnings report, profit grossed grew slightly to N4.47 billion in first quarter this year, against the N3.42 billion the food manufacturer recorded during the same period in 2020.

Meanwhile, there was a report earlier that one Mojisola Ogundiran lost a property to Asset Management Corporation of Nigeria after the government agency took over with an exparte.

The property, which is said to worth between N400 million and N600 million was demolished by AMCON and reportedly sold to an unknown person despite an ongoing lawsuit.

It was gathered that Ogundiran had filed an order against AMCON, but the asset recovery agency refused to appear before the court.

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