Unilever Pakistan posts a 61% YoY rise in profits for 9MCY20

October 27, 2020 (MLN): Unilever Pakistan Foods Limited (UPFL) has posted its profit after tax of Rs 2.49 billion (EPS: Rs 391.53) for the nine-months ended September 30, 2020, showing a robust growth of 61% YoY against the net profits of Rs 1.54 billion (EPS: Rs 243.04) of the corresponding period last year.

Alongside financial results, the Board of Directors of the company recommended a third interim cash dividend of Rs 120.52 i.e. (1205.2%) per ordinary share of Rs 10 each (nine months ended September 30, 2019 Rs. 93.00 i.e. 930% per ordinary share of Rs. 10/- each). This will be payable to the Members on the number of ordinary shares held by them at the close of business on November 10th , 2020.

As per the financial statement issued by the company, sales grew by 18.7% on the back of strong brand equity, wider reach and effective spending on advertisement and promotion matched by timely pricing. Gross Margin increased by 1.99% to 42.5% due to better cost absorption and savings initiatives.

Meanwhile, the company witnessed a drop in finance cost by 82% YoY to Rs 18 million along with the decrease in tax expenses by 22% YoY which contributed to the financial performance of the company.

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