Karachi October 24 2022: Despite challenging economic and political environment, the Unilever Pakistan Foods Limited business continued its positive momentum with sales of PKR 19.8 billion in 9M 2022 and delivered a growth of 36.3 percent with a healthy mix of pricing and volume, according to company filing to the exchange.
“The growth was broad based with both retail and food solutions business delivering consistent performance on the back of strong brand equity, innovations and wider distribution. Inflationary headwinds resulted in a gross margin dilution of 202 bps to 41.4 percent.” says Company Chairman Y. Mirza.
However, EPS grew by 33.3 percent led by strong topline growth.
Mirza says, “Pakistan’s economic and operating environment remains challenging as the country continues to grapple with sustained double-digit inflation, low forex reserves and aftermath of recent floods. The above factors are expected to result in a considerable overall economic slowdown and further erosion of purchasing power of the consumers.”
“In the midst of this situation, the management remains committed to navigating the challenges and staying relevant to the consumer by leveraging the power of its brands, delivering delightful innovations and driving cost transformation. We are confident that we will continue to deliver competitive, consistent, responsible and profitable growth benefitting all stakeholders.” says Chief Executive Officer Amir R. Paracha.
About the Company
The Company is a limited liability company incorporated in Pakistan and is listed on the Pakistan Stock Exchange. It manufactures and sells consumer and commercial food products under brand names of Rafhan, Knorr, Energile, Glaxose-D and Food Solutions. The Company is a subsidiary of Conopco Inc. USA, whereas its ultimate parent Company is Unilever PLC United Kingdom.
