Karachi: Unilever Pakistan Foods Limited disclosed a 6.2% decline in overall sales for the nine months ending September 30, 2024, according to the company's directors' review. Despite the drop in sales, strategic price interventions have led to a boost in volume, contributing to a maintained gross margin of 39.1%.

The company reported net sales of 24,808 million rupees, down from 26,449 million rupees in the same period the previous year. Profit before taxation slightly decreased by 2.3%, from 7,958 million rupees in 2023 to 7,778 million rupees in 2024. Profit after taxation saw a significant decline of 27.3%, falling from 7,474 million rupees to 5,432 million rupees, largely due to the maturity of tax credits. Earnings per share also decreased by 27.3%, from 1,173 rupees to 853 rupees.

According to information available from the Pakistan Stock Exchange (PSX), the directors expressed a cautious optimism about the future, citing a recent staff-level agreement with the International Monetary Fund (IMF), a declining policy rate, and subsiding inflation as indicators of potential economic stability in the country. However, they emphasized that the implementation of ambitious reforms is essential for long-term growth.

Despite challenges in the external operating environment, Unilever Pakistan Foods Limited's management remains focused on overcoming obstacles and delivering value to shareholders through leveraging brand equity.

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Packages Limited Board Meeting Ongoing, Results Announcement Delayed

Lahore: The Board of Directors meeting of Packages Limited, which commenced on October 25, 2024, at the company's registered office and via Zoom, is still in progress, according to a recent communication from the company. Consequently, the announcement of the financial results for the nine-month period and quarter ended September 30, 2024, has been postponed.

The company had previously informed stakeholders of the board meeting through a letter dated October 17, 2024. However, due to the ongoing nature of the meeting, Packages Limited has stated that the financial results and any other announcements will now be communicated on October 28, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the delay in the announcement has been formally communicated to relevant parties. Stakeholders and investors are advised to await further information as the company completes its board meeting discussions.