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Karachi, February 22, 2013 (PPI-OT): At its meeting held on February 21, 2013 at 14:30 Hrs at Karachi, our Board of Directors approved the Audited Financial Results of the Company for the year ended December 31, 2012.
In a tough operating environment, sales growth slowed born 22% in 2011 to 19% in 2012. Growth of EPS also declined from 41% in 2011 to 16% in 2012 with gross margin down by 90 bps vs. previous year.
|
2012 |
2011 |
|
|
(Rupees in thousands) |
||
| Sales |
5,861,096 |
4,940,251 |
| Less: Cost of Sales |
(3,633,950) |
(3,015,502) |
|
——— |
——— |
|
| Gross Profit |
2,227,146 |
1,924,749 |
| Less: Distribution, Admin and Other Operating expenses |
(1,234,534) |
(1,059,977) |
| Add: Other Operating Income |
73,820 |
82,582 |
| Less: Restructuring Cost |
– |
(30,359) |
|
——— |
——— |
|
| Profit from operations |
1,066,432 |
916,995 |
| Less: Finance Cost |
(8,066) |
(6,863) |
|
——— |
——— |
|
| Profit before Taxation |
1,058,366 |
910,132 |
| Less: Taxation |
(343,194) |
(293,437) |
|
——— |
——— |
|
| Profit after Tax |
715,172 |
616,695 |
|
——— |
——— |
|
| EPS-basic (Rupees) |
116.14 |
100.15 |
Final Dividend
In view of the financial results for the year 2012 the Directors have recommended final cash dividend of Rs.66/- or ( 880%) per ordinary share of Rs. 10/- each; in addition to the first interim dividend of Rs. 25/- per ordinary share and second interim dividend of Rs. 25/- per ordinary share, already paid during the year.
The total dividend for the year 2012 amounts to Rs.116/- (2011: Rs.100/-) per ordinary share. This will be payable to the Members on the number of ordinary shares held by them at the close of business on 18th April 2013.
Closure of Share Transfer Books
The Share Transfer Books of the Company will be dosed from 12th April 2013 to 18th April 2013 (both days inclusive) to determine the entitlement for the final dividend. The books will re-open on 19th April 2013.
Transfers in good order, received at the Companies 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 11th April 2013 will be treated in time for the purpose of payment of Final Dividend to the transferees.
Annual General Meeting
The Board has approved the convening of the next Shareholders Annual General Meeting for 18th at April 2013 at 3.00 p.m. in Karachi.
Future Outlook
The business aims to continue on its journey of profitable growth. This will not be easy due to various external challenges i.e. law and order conditions, currency depreciation pressure, employee attrition, poor GDP growth and competitive intensity.
Our understanding of consumers, access to Unilever’s global expertise, R and D capability / Innovations and better customer service will help us to counter the aforementioned challenges. Besides, we will continue to provide our consumers with better value products driven by strong brand equity. As a means to achieve this, we will also leverage our ability to attract develop and retain the best talent in the country.
For more information, contact:
Amar Naseer
Company Secretary
Unilever Pakistan Foods Limited
Avari Plaza, Fatima Jinnah Road,
Karachi-75530
T: +92-21-35660062
F: +92-21-35681705
F: +92-21-35674968