Unilever Foods Pakistan reported a net profit of Rs296 million or Rs48.19 per share in the quarter ended March 31, 2015, up by a meagre 1% compared to the same quarter of 2014, the company revealed in its financial report on Monday.
The Anglo-Dutch foods giant, however, boosted its revenues by a tenth in the same quarter. The company grossed Rs2.13 billion in sales during the quarter, up 10% from Rs1.95 billion in the same quarter of last year.
“Gross margins fell by 104 basis points compared to the same quarter of last year because of an adverse sales mix and costs incurred to strengthen formulation,” the company said in its report. Report said higher investment in innovations resulted in a 1% increase in its earnings.
Published in The Express Tribune, April 21st, 2015.
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