Unilever Pakistan Foods Limited posted an increase in net profit by nearly one-fifth to Rs 351 million, according to a notice sent to Pakistan Stock Exchange on Monday.
The company reported an after-tax profit of Rs 351 million or Rs 57.08 per share for January-March quarter of 2016, up 18.5% from Rs 296 million or Rs 48.19 per share it earned during the same period of the previous year.
The share price of the Pakistan subsidiary of the Anglo-Dutch foods giant remained constant at Rs 5,400 although 40 shares changed hands by the end of the day.
The sales of the company grew by 10.8% to Rs 2.3 billion compared to Rs 2.1 billion it earned in sales during the corresponding period of 2015. On the other hand, the company’s gross margin improved by 2.8 per cent during the quarter to 43.82% from 40.9%.
The company attributed the growth in sales to strong brand equity, successful innovations and sustained investment in advertisement and promotion, in the aforementioned notice.
International food and personal care products giant, Unilever is the largest seller of packet tea and one of the leading ice-cream producers in the world with top-notch brands like Algida and Wall’s.