September 19, 2018 (MLN): Unity Foods Limited (UNITY), formerly engaged in the manufacture and sale of yarn under the name Taha Spinning Mills Limited, has reported annual profits worth Rs 121.5 million during the year ended June 30th 2018.
According to the company’s annual financial results that were reviewed, finalized and issued on the Pakistan Stock Exchange by the Company’s Board of Directors on September 19, 2018 the company reported sales worth Rs 2.78 billion, while the firm’s gross profits stood at Rs 248 million after accounting for the Rs 2.5 billion incurred as the cost of sales.
The company also incurred expenses during the year of Rs 132.5 million, comprising Rs 55.59 million in distribution and selling expenses, Rs 55 million as administrative expenses and Rs 21.84 million as other operating expenses, leading to an operating profit for the year of about Rs 149.6 million.
After taking into account Finance costs worth Rs 51.84 million, the company earned pretax profits worth Rs 97.79 million. The company also received tax reversals worth Rs 23.7 million, increasing the company’s after-tax profits by exactly that amount.
Basic and diluted earnings per share for the year were reported at Rs 1.18 per share.
The Board of Directors of the company have also recommended a final cash dividend at Rs 0.5 per share, i.e. 5 percent.
Unity Foods Ltd. is an agri-business company, with principal activities that entails the entire value chain from the procurement and crushing of multiple oil seeds.
