Karachi October 25 2021: Unilever Pakistan Foods Limited sales grew by 27.9 percent on the back of strong fundamentals, brand equity, wider reach and effective spending on advertisement and promotion, as per information shared by the company at Pakistan Stock Exchange (PSX).
The growth was broad based with both retail business and Food Solutions delivering strong results as a result of easing lockdowns. Gross Margin increased by 1.23 percent to 43.69 percent versus same period last year, through a combination of pricing, better cost absorption and a rigorous savings agenda. Earnings per share (EPS) increased by 44.9 percent versus the same period last year driven by growth, margin improvement and tax credits pertaining to capital expenditure.
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In view of the financial results for the nine months ended September 30, 2021, the Directors have recommended a third interim cash dividend of PKR 187/- per ordinary share compared to PKR 120.52 per share announced at the end of September 30, 2020.
Dividend will be payable to the Members on the number of ordinary shares fled by them at the close of business on November 8th , 2021.
Unilever Management stated that Pakistan's economy has shown resilience in the face of global COVID -19 pandemic, witnessing GDP growth of 3.94% in fiscal year 2021 as a result of timely monetary and fiscal measures. This was supported by a nation-wide vaccination drive which has, so far, played an important role in successfully fighting COVID. With restrictions easing out further, commercial activity is expected to return to pre-covid levels. However, rising global commodity prices and energy costs coupled with sharp rupee devaluation is expected to further aggravate the inflationary headwinds which in turn, may have significant implications on the economic activity in the country.
In such challenging times, the management remains committed to navigate by leveraging the power of our brands and our global and local expertise to drive efficiencies within the value chain. We will continue our efforts on providing value to our consumers to meet their daily needs and on delivering competitive, consistent, responsible, and profitable growth benefitting all stakeholders.
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