Lahore: July 25, 2024
The General Manager
Pakistan Stock Exchange (Guarantee) Limited
Stock Exchange Building
Stock Exchange Road
Karachi - 74000
Dear Sir,
FINANCIAL RESULTS FOR THE HALF YEAR ENDED JUNE 30, 2024
We are pleased to inform you that the Board of Directors of Nestlé Pakistan Ltd., in their meeting held on July 25, 2024 at 11:00 am, announced the following:
1- 1st Interim Cash Dividend: PKR 111 per share i.e. 1110%
2- The financial results of the Company are as follows:
Six-month period ended | Three-month period ended | ||||||
Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2024 | Jun 30, 2023 | ||||
--- (Pak Rupees in '000) --- | --- (Pak Rupees in '000) --- | ||||||
Revenue from contracts with customers | 107,684,120 | 101,430,179 | 53,289,217 | 51,838,551 | |||
Cost of goods sold | (67,925,226) | (63,251,621) | (33,269,004) | (34,030,910) | |||
Gross profit | 39,758,894 | 38,178,558 | 20,020,213 | 17,807,641 | |||
Distribution and selling expenses | (17,535,258) | (13,672,007) | (9,030,423) | (5,681,974) | |||
Administration expenses | (2,959,412) | (3,120,909) | (1,444,761) | (1,611,978) | |||
Operating profit | 19,264,224 | 21,385,642 | 9,545,029 | 10,513,689 | |||
Finance cost | (1,570,724) | (1,366,106) | (808,352) | (752,823) | |||
Other expenses | (1,395,928) | (2,527,290) | (642,898) | (477,191) | |||
Other income | 306,942 | 94,078 | 34,526 | 6,429 | |||
Profit before taxation | 16,604,514 | 17,586,324 | 8,128,305 | 9,290,104 | |||
Taxation | (6,534,748) | (6,600,397) | (3,126,032) | (3,966,066) | |||
Profit after taxation | 10,069,766 | 10,985,927 | 5,002,273 | 5,324,038 | |||
Earnings per share basic and diluted (Rupees) | 222.05 | 242.25 | 110.30 | 117.40 | |||
Additionally, we would like to inform you that the Company has reclassified the general licensing fee (inclusive of related taxes) from Cost of Goods Sold to Distribution and Selling Expenses for the purposes of comparison and improved presentation. This reclassification does not affect the Company's financial results.
Nestlé Pakistan Ltd.
KOMAL ALTAF
Chief Financial Officer