Karachi: Unity Foods Limited announced its financial results for the half year ending December 31, 2024, reflecting a mixed performance characterized by profitability and challenges in various aspects of its operations. The company's board of directors, in a meeting held on February 24, 2025, decided against recommending any cash dividends, bonus shares, right shares, or other corporate actions.

The company's gross turnover for the six-month period reached 37.61 billion, up from 30.16 billion in the same period the previous year. After accounting for sales tax and discounts, the net turnover stood at 33.61 billion, an increase from 27.42 billion in the previous year. The cost of sales amounted to 30.24 billion, resulting in a gross profit of 3.38 billion, slightly down from 3.46 billion the previous year.

Selling and distribution expenses rose to 726.94 million from 487.28 million, while administrative expenses increased to 399.76 million from 357.02 million. The company also reported other expenses amounting to 348.60 million, a significant change from the previous year's expenses of 78.11 million.

According to information available from the Pakistan Stock Exchange (PSX), Unity Foods Limited's operating profit for the six-month period was reported at 3.07 billion, a decrease from 4.18 billion in the previous year. The finance cost remained relatively stable at 3.37 billion compared to 3.39 billion the previous year.

The company recorded a net profit of 484.25 million for the period, reversing a net loss of 695.86 million from the previous year. This improvement was reflected in the earnings per share, which increased to 0.41 from a loss per share of 0.58 in the corresponding period of the previous year.

In terms of cash flow, Unity Foods Limited generated 9.81 billion from operating activities, compared to a negative cash flow of 1.47 billion in the previous year. The company reported a cash outflow of 503.52 million from investing activities, contrasting with an inflow of 323.15 million in the previous year. Financing activities resulted in a cash outflow of 3.22 billion, compared to a slight outflow of 260.78 million in the previous year.

As of December 31, 2024, the company's cash and cash equivalents stood at 3.75 billion, a significant improvement from a negative balance of 604.82 million at the end of the previous year.