Unilever Pakistan Foods Limited Financial Results for the First Half (January - June), 2010
25-08-2010 :
In its meeting held today, the 24th August 2010 at 14:30 Hrs at Karachi, our Board of Directors has approved the Condensed Interim Financial Information of the Company for the half year ended June 30, 2010.
Earnings increased by 77% on the back of 13% growth in sales during the half year ended June 30, 2010.
Knorr Noodles remained the star performer with the success of the “Quest for the Noodle Pot” campaign which further strengthened its lead. Knorr Cubes and Rafhan Desserts recorded high growth, responding to continuing efforts to develop these categories.
Future Outlook
The challenge of inflationary pressure has been compounded by the devastating floods in the country, which have disrupted the lives of many. Our parent company Unilever has contributed Rs. 110m and we are working with leading NGOs and distributors in providing relief and in the rehabilitation effort.
In this challenging environment we remain committed to build strong brands which deliver exceptional value to our consumers, customers and shareholders.
Condensed Financial Information
QUARTER ENDED | HALF YEAR ENDED | ||||||
April to June 2010 | April to June 2009 | January to June 2010 | January to June 2009 | ||||
(Rupees in thousands) | |||||||
Sales | 1,096,660 | 1,010,221 | 2,045,971 | 1,808,945 | |||
Less:Cost of Sales | (640,378) | (629,718) | (1,226,742) | (1,112,977) | |||
Gross Profit | 456,282 | 380,503 | 819,229 | 695,968 | |||
Less: Distribution, Admin & Other operating Expenses | (279,447) | (305,032) | (491,479) | (471,700) | |||
Add: Other operating Income | 5,883 | 6,708 | 9,311 | 9,815 | |||
182,718 | 82,179 | 337,061 | 234,083 | ||||
Restructuring Cost | - | (24,000) | - | (24,000) | |||
Profit from Operations | 182,718 | 58,179 | 337,061 | 210,083 | |||
Less: Finance Cost | (3,718) | (12,571) | (6,750) | (22,495) | |||
Profit before Taxation | 179,000 | 45,608 | 330,311 | 187,588 | |||
Less: Taxation | (57,078) | (13,614) | (110,528) | (63,132) | |||
Profit after Tax | 121,922 | 31,994 | 219,783 | 124,456 | |||
EPS-basic (Rupees) | 19.80 | 5.20 | 35.69 | 20.21 | |||
INTERIM DIVIDEND
In view of the financial results for the half year January to June 2010, the Directors have recommended an Interim Dividend of Rs.35/- or 350% per ordinary shares of Rs. 10/- (half year January to June 2009, Rs.20/- or 200% per ordinary share). This will be payable to Members on the number of ordinary shares held by them at the close of business on 29 September 2010.
CLOSURE OF SHARE TRANSFER BOOKS
The Share Transfer Books of the Company will be closed from 23 September 2010 to 29 September 2010 (both days inclusive), and will re-open on 30 September 2010. Transfers in good order, received at the Company’s Share Registration Office c/o Famco Associates (Private) Limited, State Life Building No. 1-A, I.I. Chundrigar Road, Karachi, by the close of business on 22 September 2010 will be treated in time for the purpose of payment of Interim Dividend to the transferees.
Pakistan:
Unilever Pakistan Ltd
Avari Plaza
Fatima Jinnah Road
P.O Box 220
Karachi 75530
T: +92-21-3 566 0870
F: +92-21-3 568 0918
