Unilever Nigeria Gearing Up For Strong FY09 Showing

Seemingly unperturbed by the economic downturn, fast-moving consumer goods giant Unilever Nigeria has confidently forecast its year-end (through to December 31 2009) net income to increase by 74.8% year-on-year (y-o-y) and reach NGN6.99bn (US$45.3mn). Turnover (including personal care and household products) is expected to increase by 17.7% to NGN43.6bn. All through 2009, BMI has put forward a view that most of Nigeria's major food and drink companies are likely to emerge unharmed from the downturn. Consumer spending in the fast-moving consumer goods (FMCG) industry that Unilever operates in is much less attached to broader economic trends than in more developed

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