Unilever witnesses a 81% YoY robust growth in net earnings

August 25, 2020 (MLN): Unilever Pakistan Foods Limited (UPFL) has announced its financial results for the half-year ended June 30, 2020, wherein company reported a massive growth of 81% YoY in its net profits, standing at Rs 1.726 billion as compared to the net profits of Rs 953 million in the same period last year.

This has translated into earnings per share which clocked in at Rs 271.01 against Rs 149.63 reported in the aforementioned period.

As per the financial statement issued by the company, the sales of the company grew by 17.4 % YoY on the back of strong brand equity, wider reach, and effective spending on advertisement and promotion matched by timely pricing. Resultantly, the gross margins increased by 0.96% to 42.42% due to savings and other initiatives.

The other major highlights include a decrease in distribution, admin, and other operating expenses by 7% YoY and a significant decline of 65% YoY in other income.

During the period under review, the company witnessed a drop in finance cost by 72% YoY to Rs 15 million along with the decrease in tax expenses by 57% YoY which contributed to the financial health of the company.

Alongside financial results, the Board of Directors of the company recommended a second interim cash dividend of Rs 141 i.e. (1410%) per ordinary share of Rs 10 each.

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