Unilever’s profitability grows significantly by 48% YoY during 1QCY20

May 13, 2020 (MLN): Unilever Pakistan Foods Limited has unveiled its financial results for the 1^st quarter ended March 31, 2020, wherein the company reported its net profit of Rs 826 million, showing significant growth of 48.4% YoY against net profits of Rs 557 million in the same period of last year.

This has translated into earnings per ordinary share which clocked in at Rs 129.83 against Rs 87.50 in the aforementioned period.

Alongside financial results, the Board of Directors of the company recommended a first interim cash dividend of Rs 130/-  i.e. (1300%) per ordinary share of Rs 10 each.

As per the financial statement issued by the company, the sales of the company grew by 17.20% YoY on the back of strong brand equity, successful innovations, and sustained investment in advertisement and promotion. However, the gross margins of the company shrank from 43.45% to 40.81% owing to a difficult operating environment.

Meanwhile, the significant drop in finance cost and tax expenses by 57.45% YoY and 47.18% YoY respectively lifted bottom-line.

Copyright Mettis Link News