Karachi, January 30, 2024 – Colgate-Palmolive (Pakistan) Limited has announced a remarkable 75% growth in after-tax profit for the first half of the fiscal year ending December 31, 2023.
The company reported an after-tax profit of Rs 7.37 billion, a significant increase from Rs 4.22 billion during the same period in the previous fiscal year.
The robust profitability has driven the earnings per share (EPS) to Rs 30.36 for the first half of the fiscal year 2023-24, compared to the previous year’s EPS of Rs 17.37. The Board of Directors (BoD), in their meeting on January 29, 2024, approved the un-audited financial statement for the half-year and declared an interim cash dividend of Rs 22.50 per share of Rs 10 each, amounting to 225 percent.
According to the financial results submitted to the Pakistan Stock Exchange (PSX), Colgate-Palmolive Pakistan recorded a net turnover of Rs 55 billion for the first half of the fiscal year 2023-24, up from Rs 42 billion in the same period of the previous fiscal year. The gross profit also witnessed a substantial increase, standing at Rs 16.43 billion for the half-year under review, compared to Rs 10.9 billion in the corresponding half of the last fiscal year.
Administrative expenses for the company were reported at Rs 573 million, an increase from Rs 435 million in the previous fiscal year’s corresponding half.
The financial results reflect the company’s effective operational management, strategic decisions, and market positioning, contributing to its strong financial performance. Colgate-Palmolive Pakistan’s consistent focus on quality products and customer satisfaction has likely played a significant role in boosting its market share and profitability.
The approval of an interim cash dividend further underscores the company’s commitment to delivering value to its shareholders. The dividend payout of Rs 22.50 per share demonstrates confidence in the company’s financial strength and positive outlook for the remainder of the fiscal year.
Colgate-Palmolive Pakistan’s financial success also signals positive economic indicators, showcasing resilience and adaptability in the face of challenges. The company’s performance will be closely monitored by investors, analysts, and industry observers, with expectations of continued growth and strategic initiatives in the coming months.
As Colgate-Palmolive Pakistan navigates the evolving business landscape, its robust financial results set a benchmark for the industry, reinforcing the company’s position as a key player in the consumer goods sector in Pakistan.
