Unity Foods returns to profitability in 9MFY25
MG News | April 28, 2025 at 03:01 PM GMT+05:00
April 28, 2025 (MLN): Unity Foods Limited (PSX: UNITY) has reported a net profit of Rs1.09 billion for the nine months ended March 31, 2025, compared to a loss of Rs1.21bn in the same period last year, marking a significant turnaround in the company's financial performance.
The earnings per share (EPS) for the period clocked in at Rs0.92 against a loss per share of Rs1.01 last year.
The Board of Directors also announced a final cash dividend of Rs7.50 per share (75%) for the year ended June 30, 2024.
During the nine-month period, the company's net turnover fell by 10.41% to Rs61.97bn from Rs69.16bn recorded a year ago.
The decline in revenue was primarily due to lower gross turnover, which decreased by nearly 11% year-on-year to Rs67.39 billion.
Despite the drop in turnover, Unity Foods recorded a 10.53% growth in gross profit, reaching Rs7.41bn as cost-saving measures led to a 12.64% reduction in the cost of sales.
Operating profit surged by 36% to Rs6.80 billion, supported by a 202.54% jump in other income, which rose to Rs2.13bn from Rs703 million last year.
Selling and distribution expenses fell by 31% to Rs1.4bn, contributing further to the operational strength.
Finance costs remained largely stable at Rs5.37bn compared to Rs5.4bn last year.
After accounting for finance costs and levies, Unity Foods posted a net profit of Rs772.6m from continuing operations, while discontinued operations added another Rs326.2m to the bottom line.
Overall, the company achieved a significant turnaround, reflecting effective cost management, enhanced operational efficiencies, and focused strategic decisions.
|
Consolidated Financial Results for the nine months period ended March 31, 2025 (Rs '000) |
|||
|
Mar-25 |
Mar-24 |
% Change |
|
|
Turnover - Gross |
67,392,144 |
75,547,345 |
-10.79% |
|
Less: Sales tax / discount |
(5,427,113) |
(6,384,663) |
-15.01% |
|
Turnover - Net |
61,965,031 |
69,162,682 |
-10.41% |
|
Cost of Sales |
(54,552,781) |
(62,456,557) |
-12.64% |
|
Gross Profit |
7,412,250 |
6,706,125 |
10.53% |
|
Selling and Distribution Expenses |
(1,395,359) |
(2,014,043) |
-30.74% |
|
Administrative Expenses |
(1,099,297) |
(1,030,231) |
6.70% |
|
Other Expenses |
(336,614) |
625,964 |
|
|
Total Other Expenses |
(2,741,270) |
(2,418,310) |
13.37% |
|
Other Income |
2,125,559 |
702,574 |
202.54% |
|
Operating Profit |
6,796,539 |
4,990,389 |
36.21% |
|
Finance Cost |
(5,372,040) |
(5,401,231) |
-0.54% |
|
Profit / (Loss) before Levies and Taxation |
1,424,499 |
(410,842) |
|
|
Levies |
(651,925) |
(706,353) |
-7.65% |
|
Net Profit / (Loss) from Continuing Operations after Levies and Taxation |
772,574 |
(1,117,195) |
|
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