UPL financial results for Q1 2012
At its meeting held today, April 20, 2012 at 10:30 Hrs at Karachi, our Board of Directors has approved the un-audited Financial Statements of the Company for the Quarter ended March 31, 2012.
Profit after tax increased by 16% on the back of 11% growth in sales. Gross margins improved by 70 bps as a result of better cost absorption, improved operational leverage and well timed price corrections to offset the impact of higher input costs. Despite an increase of 14% in advertising and promotion spend on nine more brands than same period last year, Earnings Per Share grew at a higher rate than turnover. A larger, more diversified portfolio will help reach more consumers in additional categories, thereby strengthening the Company’s position as the leading FMCG business in Pakistan.
Summary of financial performance
(Rupees in Millions)
Less:Cost of Sales
Less: Distribution Cost
Less: Administrative Expenses
Less: Other Operating Expenses
Add: Other Operating Incomes
Profit from Operations
Profit before taxation
Profit after taxation
Earning per share - basic and diluted (Rupees)
First Interim Dividend
In view of the financial results for the 1st Quarter, January to March 2012, the Directors have recommended First Interim Dividend of Rs.65/- or 130% per ordinary shares of Rs. 50/- (1st Quarter, January to March 2011: NIL per ordinary share). This will be payable to Members on the number of ordinary shares held by them at the close of business on 21 May 2012.
Closure Of Share Transfer Books
The Share Transfer Books of the Company will be closed from 15 May 2012 to 21 May 2012 (both days inclusive), and will re-open on 22 May 2012. 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 14 May 2012 will be treated in time for the purpose of payment of First Interim Dividend to the transferees.
Unilever Pakistan Limited
Fatimah Jinnah Road