April 29, 2021 (MLN): Unilever Pakistan Foods Limited (UPFL) has announced its financial results for the first quarter ended March 31, 2021 wherein the company reported a whopping growth of 76% YoY in its net profits, standing at Rs 1.45 billion as compared to the same period last year.
This has translated into earnings per share which increased by 76% to Rs 228.36 against Rs 129.83 reported in the same period last year driven by growth, margin improvement and tax credits pertaining to capital expenditure.
In view of the financial results for 1QCY21, the Directors have recommended a first cash dividend of Rs 281 i.e. (2280%) per ordinary share of Rs 10 each.
During the period under review, the company’s sales grew by 29.6% on the back of strong fundamentals i.e brand equity, wider reach and effective spending on advertisement and promotion. The growth was broad-based with both retail business and Food Solutions delivering strong results as a result of easing lockdowns.
The gross margin of the company increased by 4.84% to 45.66% versus the same period last year, through a combination of pricing, better cost absorption and a rigorous savings agenda.
Going forward, despite a tough economic and operating environment amid the third wave of Covid-19 that has hit the country hard again, the management remains committed to navigating the situation by leveraging its access to Unilever's global expertise, honing the understanding of its consumers, on-going innovation endeavours and by consistently offering an exemplary customer service.
The launch of Hellman's mayonnaise is yet another manifestation of the company's focus on innovation and consumers.
Unilever is confident that its dedicated and focused efforts will enable it to meet the ever-evolving needs of its consumers and in delivering sustained profitable growth benefiting all stakeholders.
Financial Results for the 1st Quarter ended March 31, 2021 ('000 Rupees)
Cost of Sales
Distribution, admin & other operating expenses
Profit from Operations
Profit before taxation
Profit after tax
EPS – basic and diluted (Rupees)
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