Unilever Pakistan Foods profit up 7.48 per cent

KARACHI: Unilever Pakistan Foods has announced a net profit of Rs966.64 million for the quarter ended June 30, 2021, which is 7.48 per cent higher than Rs899.32 million recorded in the corresponding quarter last year, a bourse filing said on Wednesday.

The earnings per share (EPS) for the quarter clocked-in at Rs151.75 as against Rs141.18 last year. The company declared an interim cash dividend of Rs151/share along with the financial results. The revenues for the quarter stood at Rs4.54 billion, up 21.6 per cent from Rs3.78 billion last year.

For the half-year ended June 30, 2021, Unilever Pakistan Foods posted a net profit of Rs2.42 billion (EPS: Rs380.11), up 40.69 per cent from Rs1.72 billion (EPS: Rs271.01) in the corresponding period last year.

The company noted that Pakistan’s economy has shown resilience in the face of global Covid-19 pandemic, witnessing GDP growth of 3.94 per cent in the fiscal year 2021 as a result of timely monetary and fiscal measures.

“The environment; however, remains volatile in the wake of the ongoing fourth wave of Covid-19. In addition, high inflation continues to remain a challenge, further aggravated by rising global commodity prices.”

Despite a tough economic and operating environment, the management remains committed to navigate the situation by leveraging its access to Unilever’s global expertise, honing the understanding of its consumers, ongoing innovation endeavours and by consistently offering exemplary customer service.

“The launch of Hellman’s mayonnaise is yet another manifestation of the company’s focus towards innovation and consumers. We are confident that our dedicated and focussed efforts will enable us to meet the ever-evolving needs of our consumers and in delivering a sustained profitable growth benefitting all stakeholders.”

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