20000403

Lever Brothers

declare 100pc

dividend

RECORDER REPORT

KARACHI: Lever Brothers Pakistan Ltd, declared 100 percent dividend while its profit amounted to Rs 763 million for the year 1999.

The company earned a net profit of Rs 764 million, almost 3.52 percent higher than the last reported figure of Rs 738 million. It is important to mention here that the figures of 1998 were for 18 months, which means from July 1997 to December 1998.

The management has also recommended a 50 percent cash dividend, making a total cash dividend of 100 percent for the year. The company, for the 18-month period had declared 125 percent.

The pay-out for the 1999 shows that the company has maintained its dividend track record and declared almost 87 percent of its earned profits for distribution to the shareholders.

The sales were at Rs 19.366 billion; gross profit at Rs 4.365 billion; financial expenses were reported at Rs 339 million. The margins of the company slightly recovered after fall in tea prices. However, the growth in the sales gave the reflection of the economy. But traders expected that the growth would be higher in the coming years following increase in beverage segment owing to better operating environments in this area.