Colgate-Palmolive Pakistan Registers Massive 77% Increase in Annual Net Profit

Colgate-Palmolive Pakistan Registers Massive 77% Increase in Annual Net Profit

Karachi, August 1, 2023 – Colgate-Palmolive Pakistan Limited, a leading consumer goods company, has reported an impressive 77 percent surge in net profit for the fiscal year ended June 30, 2023.

The company’s financial results, disclosed to the Pakistan Stock Exchange (PSX), demonstrate a significant upturn in performance compared to the previous year.

According to the submitted financial statements, Colgate-Palmolive Pakistan recorded a total comprehensive income of Rs 10.34 billion for the fiscal year 2022-23. This marks a considerable increase from Rs 5.84 billion reported in the preceding fiscal year. The extraordinary growth in net profit has positively impacted the company’s earnings per share (EPS), which climbed to Rs 99.48 for the year ended June 30, 2023, in contrast to Rs 56.11 in the previous year.

The company’s board of directors convened on July 31, 2023, and approved a final cash dividend of Rs 5 per share (50 percent) for the year ended June 30, 2023. This additional dividend comes in addition to the first interim cash dividend already disbursed at Rs 20 per share (200 percent) and the issuance of fully paid bonus shares at 45 percent (nine shares for every 20 shares of Rs 10 each). Furthermore, a second interim cash dividend of Rs 40 per share (400 percent) was announced alongside the issuance of fully paid bonus shares at 100 percent (one share for every one share of Rs 10 each).

The company’s financial results reveal that the net turnover increased to Rs 91.46 billion for the year under review, indicating robust performance in its core business operations. Additionally, the gross profit witnessed a significant rise, reaching Rs 26 billion, as compared to Rs 16 billion in the previous year.

The impressive financial performance of Colgate-Palmolive Pakistan for the fiscal year 2022-23 is a testament to its strategic approach, product innovation, and efficient management. The company’s ability to adapt to the changing market dynamics and meet consumer demands has evidently played a vital role in its remarkable growth.

With its strong market presence and a diverse portfolio of consumer products, Colgate-Palmolive Pakistan continues to be a major player in the consumer goods sector. As the company moves forward, investors and stakeholders remain optimistic about its potential to maintain its growth trajectory and deliver value to its shareholders.

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