Karachi: United Distributors Pakistan Limited has reported a significant financial turnaround for the fiscal year ended June 30, 2024, announcing a robust profit and a generous dividend payout. This recovery follows a substantial loss recorded in the previous fiscal year.

According to information available from the Pakistan Stock Exchange (PSX), United Distributors Pakistan Limited's financial performance in 2024 contrasts sharply with its results from the prior year. The company has achieved net sales of Rs. 1,111.47 million, marking a 41.44% increase from the previous year's Rs. 785.45 million. This improvement is attributed to enhanced sales strategies and operational efficiencies.

Profit after tax also showed a remarkable recovery, standing at Rs. 362.47 million, a significant rebound from a loss of Rs. 373.53 million in 2023. The earnings per share shifted from a loss of Rs. 10.56 per share in 2023 to a gain of Rs. 10.28 per share in 2024.

The Board of Directors, pleased with the company's performance, has recommended a final cash dividend of Rs. 4 per share, which is 40% of the par value. This decision is pending approval at the upcoming Annual General Meeting scheduled for October 28, 2024.

Additionally, United Distributors has improved its gross profit margin from 36% to 38%, underscoring its enhanced efficiency and product quality. Operating profit also turned positive, reaching Rs. 25 million compared to a loss of Rs. 114 million in the previous year.

The company's recovery strategy included optimizing its product range and maximizing production capacity, which significantly contributed to the improved financial metrics.

This financial recovery positions United Distributors Pakistan Limited well for sustained growth and stability, reflecting the company’s resilience in a challenging economic environment. The firm remains committed to maintaining high standards of corporate governance and continuing its strategic focus on agricultural productivity to support the country's food supply.