Top-line elevates Unilever’s profitability by 41% during CY19

MG News | March 02, 2020 at 11:11 AM GMT+05:00

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March 2, 2020 (MLN): Unilever Pakistan Foods Limited has earned net profits of Rs 2.45 billion (EPS: 385.08) for the year ended December 31, 2019, showing a growth of 41% YoY against earnings of Rs 1.73 billion of last year.

During the period under review, sales revenue grew by 11.71% YoY on the back of strong brand equity, successful innovations and sustained investment in advertisement and promotion.

The gross margin of the company decreased by 4.1% to 40.9% due to a difficult operating environment.

Meanwhile, the finance cost ballooned 2.85 times YoY to clock in at Rs 135 million which kept the profits in check.

Alongside financial results, the board of directors has announced a final cash dividend of Rs 142 i.e. (1420%) per ordinary share of Rs 10 each for the year ended Dec 31, 2019. This is in addition to the interim dividend of Rs 244 per ordinary share, already paid during the year.

Financial Results for the year ended December 31, 2019 ('000 Rupees)
	Dec-19	Dec-18	% Change
Sales	13,291,424	11,898,430	11.71%
Cost of Sales	(7,861,105)	(6,549,353)	20.03%
Gross profit	5,430,319	5,349,077	1.52%
Distribution, admin & other operating expenses	(2,791,782)	(3,148,017)	-11.32%
Other incomes	304,339	342,115	-11.04%
Profit from Operations	2,942,876	2,543,175	15.72%
Finance cost	(135,076)	(47,300)	185.57%
Profit before taxation	2,807,800	2,495,875	12.50%
Taxation	(354,862)	(761,418)	-53.39%
Profit after tax	2,452,938	1,734,457	41.42%
EPS - basic and diluted (Rupees)	385.08	274.92	40.07%

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