Unilever Pakistan Foods Ltd. | Unilever Pakistan Foods Ltd. |
Registered in Pakistan | Avari Plaza |
Company No 0038545 | Fatima Jinnah Road |
Registered office | Karachi, 75530, Pakistan |
+0800-13000 | |
AVARI PLAZA, FATIMA JINNAH ROAD, | |
KARACHI - 75530 | unilever.pk |
March 04, 2024 | |
The General Manager | |
Pakistan Stock Exchange Limited | By Hand & PUCARS |
Stock Exchange Building | |
Stock Exchange Road | |
Karachi | |
Dear Sir, |
UNILEVER PAKISTAN FOODS LIMITED
Financial Results for the twelve months ended December 31, 2023
At its meeting held on March 4, 2024 at 14:30 Hrs, the Board of Directors of the Company has approved the audited Financial Information for the year ended December 31, 2023.
The business delivered a broad based growth of 22.2% in 2023, mainly led by pricing. Earnings per share (EPS) increased by 22.5% versus the same period last year driven by growth and higher interest income.
YEAR ENDED | |||
31-Dec | 31-Dec | ||
2023 | 2022 | ||
(Rupees in Thousands) | |||
Sales | 34,586,732 | 28,309,317 | |
Less: Cost of Sales | (19,777,895) | (16,359,841) | |
Gross Profit | 14,808,837 | 11,949,476 | |
Less: Distribution, Admin & Other | (6,774,239) | (4,823,358) | |
Add: Other Income | 2,437,963 | 1,380,154 | |
Operating profit | 10,472,561 | 8,506,272 | |
Less: Finance Cost | (119,461) | (139,905) | |
Profit before Taxation | 10,353,100 | 8,366,367 | |
Less: Taxation | (609,070) | (413,964) | |
Profit after Tax | 9,744,030 | 7,952,403 | |
EPS-basic and diluted (Rupees) | 1,529.68 | 1248.41 | |
Unilever Pakistan Foods Ltd. | Unilever Pakistan Foods Ltd. |
Registered in Pakistan | Avari Plaza |
Company No 0038545 | Fatima Jinnah Road |
Registered office | Karachi, 75530, Pakistan |
+0800-13000 | |
AVARI PLAZA, FATIMA JINNAH ROAD, | |
KARACHI - 75530 | unilever.pk |
FINAL DIVIDEND
In view of the financial results for the year ended December 31, 2023, the Directors have recommended the final cash dividend of Rs. 178 per ordinary share of Rs.10/- each. In addition, to the interim dividend of Rs. 251 already paid during the year. This will be payable to the Members on the number of ordinary shares held by them at the
close of business on April 11th, 2024.
CLOSURE OF SHARE TRANSFER BOOKS
The Share Transfer Books of the Company will be closed from April 12th,2024 to April 16th, 2024 (both days inclusive) to determine the entitlement for the final dividend. The books will re-open on April 17th, 2024. Transfers in good order, received at the
Central Depository Company Share Registrar Services Limited, CDC House, 99- B, Block-B, S.M.C.H.S., Main Shahrah-e-Faisal, Karachi - 74400 by the close of
business on April 11th, 2024 will be treated in time for the purpose of attending the Annual General Meeting and payment of final Dividend to the transferees.
ANNUAL GENERAL MEETING:
The Board has approved the convening of the next Shareholders Annual General Meeting for April 16th, 2024 at 10:30 a.m. in Karachi.
FUTURE OUTLOOK
Pakistan's economic and operating environment is expected to remain challenging due to sustained high level of inflation and pressure on FX reserves due to upcoming foreign debt servicing. This may continue to affect the purchasing power of consumers.
Despite the above our management team remains committed to overcoming the challenges by driving value for our stakeholders and staying connected to consumers by harnessing the strength of our brand, introducing delightful innovations, continuously striving for value-for-money offerings, and driving cost efficiencies throughout the value chain.
Yours faithfully,
UNILEVER PAKISTAN FOODS LIMITED
AMAN GHANCHI
Company Secretary
Copy to:
- The Securities & Exchange Commission of Pakistan, Islamabad. Fax: 051 9204915.
- The Central Depository Company of Pakistan Limited, Karachi. Fax: 021-34326034 / 34326016
- The Central Depository Company of Pakistan Limited, Share Registrar Department, Karachi. Fax: 021-34326053