Karachi: Colgate-Palmolive (Pakistan) Limited reported its financial results for the fiscal year ending June 30, 2024, revealing significant gains in profitability and an impressive dividend payout. The board meeting, held on July 31 at the company's registered office in Karachi, declared a final cash dividend of Rs. 34.50 per share, totaling 345% for the year, in addition to a previously distributed interim dividend of Rs. 22.50 per share or 225%.

According to information available from the Pakistan Stock Exchange (PSX), the firm's net turnover escalated to Rs. 113.23 billion from Rs. 91.46 billion in 2023, marking a substantial year-over-year increase. The gross profit stood at Rs. 36.89 billion compared to Rs. 26.10 billion in the prior year, driven by higher sales and cost management strategies.

The detailed statement of profit or loss and other comprehensive income reveals an increase in profit from operations, which rose to Rs. 27.80 billion from Rs. 16.68 billion in 2023. The profit after income tax also saw a significant rise, reaching Rs. 17.29 billion compared to Rs. 10.41 billion reported last year. Earnings per share substantially increased to Rs. 71.23 from Rs. 42.88.

Colgate-Palmolive's Annual General Meeting is scheduled for September 27, 2024, at 3:30 p.m. in Karachi. Shareholders registered by September 19 will be entitled to the dividend, with the share transfer books remaining closed from September 20 through September 27.

The company’s annual report will be available through PUCARS at least 21 days prior to the annual meeting, ensuring transparency and compliance with regulatory requirements. The financial resilience displayed by Colgate-Palmolive underscores its continued commitment to shareholder value and operational excellence.