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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