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.

Financial Results for the Nine Months Ended September 30th, 2020 ('000 Rupees)

 

Sep-20

Sep-19

% Change

Sales

 11,340,691

 9,555,297

18.68%

Cost of Sales

 (6,525,151)

 (5,687,989)

14.72%

Gross profit

 4,815,540

 3,867,308

24.52%

Distribution, admin & other operating expenses

 (2,243,569)

 (2,228,379)

0.68%

Other incomes

 158,744

 295,101

-46.21%

Finance cost

 (18,691)

 (106,712)

-82.48%

Profit before taxation

 2,712,024

 1,827,318

48.42%

Taxation

 (217,982)

 (279,180)

-21.92%

Profit after tax

 2,494,042

 1,548,138

61.10%

EPS – basic and diluted (Rupees)

 391.53

 243.04

61.10%

 

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Posted on: 2020-10-27T18:27:00+05:00

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