The FMCG multinational, Unilever Pakistan Foods Limited (PSX: UPFL) has reported outstanding first-quarter results for 2017. The firm’s top line grew by 17 percent year-on-year, with gross profit growing by 23 percent. The bottom-line grew by an impressive 32 percent year-on-year.
As per the company’s filing, sales grew during the quarter on the back of strong brand equity and sustained investment in advertising and promotion. The growth in gross margins was due to better cost absorption and efficiencies.
The FMCG sector in Pakistan has been witnessing rapid growth due to rising income levels and population growth. As per the company’s last annual Director’s Report, Unilever Food’s main products are the Knorr and Rafhan portfolios. The Knorr product line saw the launch of snacking mixes last year, which were received well by consumers and may further added to the company’s sales growth. The Rafhan products have shown growth on the back of its desserts portfolio, with investments undertaken in marketing.
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