The FMCG multinational, Unilever Pakistan Foods Limited (PSX: UPFL) has reported results for the year ended December 31, 2017. The profit for the year ended was up by 6.3% to Rs1.35 billion as compared to Rs1.27 billion in the corresponding year.
Earning per share of the company grew by 6.23% to Rs220.16 as compared to Rs207.24 in the same period last year.
No final cash dividend was announced by the company.
The sales of the company grew by 13.5% to Rs10.74 billion on the back of strong brand equity, successful innovation and sustained investments in advertisement and promotions.
The Gross margins improved by 0.6% to 45.0% due to better cost absorptions and efficiencies.
The board of directors has decided to issue 3.45% Right shares, 212332 ordinary shares of face value of Rs10 each at a premium of Rs5990 per share for the purpose of expanding manufacturing capacity of the company to increase the volume demands.
At the time of filing this report, UPFL’s share at the exchange was trading at Rs8925, up by 5% to +Rs425 with a turnover of just 20 shares.
Knorr ketchup is always received well by consumers and may further added to the company’s sales growth. Rafhan products have shown growth on the back of its desserts portfolio, with investments undertaken in marketing.
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Unilever Pakistan Foods Limited manufactures, markets and sells its products under Rafhan, Knorr, Energile, Glaxose-D, Lux, Lifebuoy, Lipton, Sunsilk, Surf Excel, Wall’s, Blue Band, Brookebond Supreme, Clear, CloseUp, Comfort, Cornetto, Domex, Dove, Fair & Lovely, and Fruttare brand names.
It also offers various food solutions. The company was formerly known as Rafhan Best Foods Limited and changed its name to Unilever Pakistan Foods Limited in April 2007.
