October 1, 2019 (MLN): Unity Foods Limited has reported net earnings of Rs. 255 million for the year ended on June 30, 2019, i.e. nearly 110% higher than last year. The Earnings per share were reported to be Rs. 1.03 during the period, which is around 13% lower than last year.

The company saw a massive four-fold increase in both sales revenue and cost of sales. Resultantly, the gross profit also increased by the same extent.

However, a fivefold rise in distribution expense and twofold rise in administration expense, negated most of the positive impact generated by increase in gross profits.

Furthermore, a fourfold increase in finance costs and 97% decline in non-core income added to the company’s financial misery.

Despite all the above mentioned changes, the company managed to achieve a colossal improvement in net income.

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