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United Distributors Pakistan Limited (UDPL) has announced its financial results for the year ending on June 30, 2024. The Board of Directors, during their meeting held on September 25, 2024, approved a cash dividend of 40% or Rs. 4 per share. No bonus shares, right shares, or other entitlements or corporate actions were proposed for this financial period.
Profit and Loss Analysis:
- Revenue Growth:
The company achieved a significant increase in revenue, growing from Rs. 785,451,000 in 2023 to Rs. 1,111,470,000 in 2024. This substantial revenue growth reflects strong performance and improved sales during the financial year. - Cost of Sales:
The cost of sales also increased, from Rs. 502,347,000 in 2023 to Rs. 688,542,000 in 2024. Despite this increase, the company managed to maintain its profitability due to higher gross profit margins. - Gross Profit:
Gross profit surged from Rs. 283,104,000 in 2023 to Rs. 422,928,000 in 2024, representing a significant year-over-year improvement. This indicates effective cost management and a favorable sales mix. - Operating Profit:
UDPL’s operating profit stood at Rs. 24,673,000 for 2024, a stark turnaround from the operating loss of Rs. 113,698,000 in 2023. This shift underscores the company’s success in improving its operational efficiency and reducing expenses, despite a notable rise in marketing, distribution, and administrative costs. - Other Income and Finance Costs:
The company’s other income saw a sharp rise to Rs. 440,537,000 in 2024, up from Rs. 15,089,000 in 2023, contributing significantly to the overall financial health. However, finance costs marginally increased to Rs. 30,820,000 in 2024 from Rs. 32,478,000 in 2023, although this had a relatively minor impact on the bottom line. - Profit Before and After Tax:
Profit before taxation climbed to Rs. 429,853,000 in 2024 compared to a loss of Rs. 259,741,000 in 2023, demonstrating a robust recovery. After accounting for taxation, the net profit for the year stood at Rs. 362,474,000 in contrast to a net loss of Rs. 372,532,000 in 2023. - Earnings Per Share:
The company’s earnings per share (EPS) for 2024 were reported at Rs. 10.28, a remarkable improvement from a loss per share of Rs. 10.56 in 2023.
Comprehensive Income:
The total comprehensive income for the year was Rs. 367,585,000, up from a comprehensive loss of Rs. 1,225,326,000 in 2023. This includes an unrealized gain on the remeasurement of investments of Rs. 5,111,000, compared to a loss of Rs. 852,794,000 in the previous year.