- UPFL witnesses 19% growth in Sales Revenue amid increased Volumes
Unilever Pakistan Foods Limited announced its None Months 2020 Financial Statement, where its Net Profit stood at PKR 2.494 Billion as compared to PKR 1.548 Billion in same period last year. Company’s sales increased to PKR 11.34 Billion during the period in comparison with PKR 9.55 Billion sales in last year.
More surprising was the fact that the company witnessed 22% sales growth in the July-September 2020 Quarter. This came amid lifting of Lock down and economy was still reeling from its impact.
Revenues rose during the period led by growth in part of its packaged food, tea and coffee portfolio as the disruptions caused by covid 19-lockdowns upended business for fast moving consumer goods makers.
UPFL’s Gross Margins also increased to massive 42% as compared to 36% in last year. Higher Gross Margins came on back of Price Hikes company made during the period.
As per the company, Covid-19 posed enhanced difficulties to the operations of the company. Despite such a testing economic and operating environment, UPFL expects to deliver competitive results in the foreseeable future, as the management remains committed to deal with the situation through an access to Unilever’s global expertise, a sound consumer understanding, our on-going innovation endeavours, and by consistently offering an exemplary customer service.
UPFL also mentioned that launch of the new “Cheesy Chatt Patta’ noodle variant further enhances noodles portfolio and is a manifestation of the company’s continuous endeavours towards innovation.
While economy is still in the recovery phase from COVID19 induced slowdown, the near-term demand looks robust. UPFL remain well positioned to drive competitive and profitable growth. The long-term structural opportunity of FMCG’s in the country also remains intact.
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