MIRA INFORM REPORT

 

 

Report Date :

03.01.2014

 

 

 

 

Tel. No.:

+92-21-5660062

Fax No.:

+92-21-5681705

 

 

IDENTIFICATION DETAILS

 

Name :

UNILEVER PAKISTAN LIMITED  

 

 

Formerly Known as: 

Lever Brothers (Pakistan) Ltd

 

 

Registered Office :

Avari Plaza, Fatima Jinnah Road, Saddar, P.O Box 220, Karachi, 75500

 

 

Country :

Pakistan

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

10.02.1948

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

·         Engaged in manufacturing and marketing of Home and Personal Care, Beverages- tea, Ice Cream and Spreads.

Manufacturer and distributor of Branded Consumer Goods, including Tea, Margarine, Cooking Oil, Soap, Detergents, Personal Care Products, Shampoo, Toothpaste and Shaving Cream

 

 

No. of Employees :

1,677

 


 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

No Complaints 

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Pakistan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 


pakistan ECONOMIC OVERVIEW

 

Decades of internal political disputes and low levels of foreign investment have led to slow growth and underdevelopment in Pakistan. Agriculture accounts for more than one-fifth of output and two-fifths of employment. Textiles account for most of Pakistan's export earnings, and Pakistan's failure to expand a viable export base for other manufactures has left the country vulnerable to shifts in world demand. Official unemployment is under 6%, but this fails to capture the true picture, because much of the economy is informal and underemployment remains high. Over the past few years, low growth and high inflation, led by a spurt in food prices, have increased the amount of poverty - the UN Human Development Report estimated poverty in 2011 at almost 50% of the population. Inflation has worsened the situation, climbing from 7.7% in 2007 to almost 12% for 2011, before declining to 10% in 2012. As a result of political and economic instability, the Pakistani rupee has depreciated more than 40% since 2007. The government agreed to an International Monetary Fund Standby Arrangement in November 2008 in response to a balance of payments crisis. Although the economy has stabilized since the crisis, it has failed to recover. Foreign investment has not returned, due to investor concerns related to governance, energy, security, and a slow-down in the global economy. Remittances from overseas workers, averaging about $1 billion a month since March 2011, remain a bright spot for Pakistan. However, after a small current account surplus in fiscal year 2011 (July 2010/June 2011), Pakistan's current account turned to deficit in fiscal year 2012, spurred by higher prices for imported oil and lower prices for exported cotton. Pakistan remains stuck in a low-income, low-growth trap, with growth averaging about 3% per year from 2008 to 2012. Pakistan must address long standing issues related to government sales and energy production in order to spur the amount of economic growth that will be necessary to employ its growing and rapidly urbanizing population, more than half of which is under 22. Other long term challenges include expanding investment in education and healthcare, adapting to the effects of climate change and natural disasters, and reducing dependence on foreign donors.

 

Source : CIA

 

 


Company name & address

 

Unilever Pakistan Limited 

AVARI PLAZA, FATIMA JINNAH ROAD, SADDAR

P.O Box 220

Karachi, 75500

Pakistan

Tel:       92-21-35660062

Fax:      92-21-35671705

Web:     www.unileverpakistan.com.pk

 

           

synthesis

 

Employees:                              1,677

Company Type:                        Private Subsidiary

Corporate Family:                      581 Companies

Ultimate Parent:                         Unilever plc

Traded:

Karachi Stock Exchange            ULEVER

Incorporation Date:                    10-Feb-1948

Auditor:                                    A F Ferguson & Co.      

Financials in:                             USD (Millions)

Fiscal Year End:                        31-Dec-2012

Reporting Currency:                   Pakistan Rupee

Annual Sales:                           640.0  1

Net Income:                              58.9

Total Assets:                            189.7  2

Market Value:                            1,903.0 (11-Sep-2013)

 

 

Business Description     

 

Unilever Pakistan Limited is a Pakistan-based company engaged in manufacturing and marketing home and personal care products, beverages, ice cream and spreads. The Company operates in four segments: Home and Personal Care, Beverages- tea, Ice Cream and Spreads. The Company operates through regional offices, wholly owned and third party manufacturing sites across Pakistan. The Company’s wholly owned subsidiaries are Lever Chemicals (Private) Limited and Levers Associated Pakistan Trust (Private) Limited and Sadiq (Private) Limited. Levers Associated Pakistan Trust (Private) Limited and Sadiq (Private) Limited act as trustees of Union Pakistan Provident Fund (Unilever Provident Fund). For the six months ended 30 June 2013, Unilever Pakistan Limited sales increased 8% to PKR30.1B. Net income decreased 4% to PKR2.32B. Sales reflect Home and Personal Care segment increase from PKR8.08B to PKR16.55B, Beverages segment increase from PKR3.26B to PKR9.02B, Ice Cream segment increase of 41% to PKR3.59B. Net income was offset by Ice Cream segment income decrease of 67% to PKR114M.


Industry             

Industry            Miscellaneous Chemical Manufacturing

ANZSIC 2006:    1852 - Cosmetic and Toiletry Preparation Manufacturing

ISIC Rev 4:        2023 - Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and

toilet preparations

NACE Rev 2:     2042 - Manufacture of perfumes and toilet preparations

NAICS 2012:     32562 - Toilet Preparation Manufacturing

UK SIC 2007:    2042 - Manufacture of perfumes and toilet preparations

US SIC 1987:    2844 - Perfumes, Cosmetics, and Other Toilet Preparations

 

           

Key Executives

 

Name

Title

Ehsan Ali Malik

Chairman of the Board, Chief Executive Officer

Ali Tariq

Chief Financial Officer, Director

Amar Naseer

Company Secretary

Farhan Alam

Finance Manager

Zaffar A. Khan

Independent Non-Executive Director

 

 

Financial Summary    

 

 

As of 30-Jun-2013

Key Ratios

Company

Industry

Current Ratio (MRQ)

0.68

1.40

Quick Ratio (MRQ)

0.29

0.80

Debt to Equity (MRQ)

0.88

0.91

Sales 5 Year Growth

20.69

6.30

Net Profit Margin (TTM) %

8.72

16.38

Return on Assets (TTM) %

28.19

10.81

Return on Equity (TTM) %

170.62

28.10

 

 

Stock Snapshot

 

 

Traded: Karachi Stock Exchange: ULEVER

 

As of 11-Sep-2013

   Financials in: PKR

Recent Price

15,000.00

 

EPS

408.32

52 Week High

15,100.00

 

Price/Sales

3.34

52 Week Low

9,225.00

 

Dividend Rate

457.49

Avg. Volume (mil)

0.0025

 

Price/Earnings

36.85

Market Value (mil)

199,408.00

 

Price/Book

37.51

 

 

 

Beta

0.44

 

Price % Change

Rel S&P 500%

4 Week

0.0000%

 

13 Week

0.0000%

 

52 Week

62.34%

 

Year to Date

48.51%

 

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = PKR 93.34763

2 - Balance Sheet Item Exchange Rate: USD 1 = PKR 97.2

 

 

Corporate Overview

 

Location

AVARI PLAZA, FATIMA JINNAH ROAD, SADDAR

P.O Box 220

Karachi, 75500

Pakistan

Tel:       92-21-35660062

Fax:      92-21-35671705

Web:    www.unileverpakistan.com.pk

           

Quote Symbol - Exchange

ULEVER - Karachi Stock Exchange

Sales PKR(mil):             59,741.0

Assets PKR(mil):           18,442.7

Employees:                   1,677

Fiscal Year End:            31-Dec-2012

Industry:                        Personal and Household Products

Incorporation Date:         10-Feb-1948

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Previous Name:             Lever Brothers (Pakistan) Ltd

 

Chairman of the Board, Chief Executive Officer:

Ehsan Ali Malik

 

Industry Codes

ANZSIC 2006 Codes:

1852     -          Cosmetic and Toiletry Preparation Manufacturing

1199     -          Other Food Product Manufacturing Not Elsewhere Classified

1851     -          Cleaning Compound Manufacturing

1132     -          Ice Cream Manufacturing

 

ISIC Rev 4 Codes:

2023     -          Manufacture of soap and detergents, cleaning and polishing preparations, perfumes and toilet preparations

1050     -          Manufacture of dairy products

1079     -          Manufacture of other food products n.e.c.

 

NACE Rev 2 Codes:

2042     -          Manufacture of perfumes and toilet preparations

1052     -          Manufacture of ice cream

2041     -          Manufacture of soap and detergents, cleaning and polishing preparations

1089     -          Manufacture of other food products n.e.c.

 

NAICS 2012 Codes:

32562   -          Toilet Preparation Manufacturing

311520  -          Ice Cream and Frozen Dessert Manufacturing

325611  -          Soap and Other Detergent Manufacturing

311999  -          All Other Miscellaneous Food Manufacturing

 

US SIC 1987:

2844     -          Perfumes, Cosmetics, and Other Toilet Preparations

2099     -          Food Preparations, Not Elsewhere Classified

2841     -          Soap and Other Detergents, Except Specialty Cleaners

2024     -          Ice Cream and Frozen Desserts

 

UK SIC 2007:

2042     -          Manufacture of perfumes and toilet preparations

1052     -          Manufacture of ice cream

20411   -          Manufacture of soap and detergents

1089     -          Manufacture of other food products n.e.c.

 

Business Description

Unilever Pakistan Limited is a Pakistan-based company engaged in manufacturing and marketing home and personal care products, beverages, ice cream and spreads. The Company operates in four segments: Home and Personal Care, Beverages- tea, Ice Cream and Spreads. The Company operates through regional offices, wholly owned and third party manufacturing sites across Pakistan. The Company’s wholly owned subsidiaries are Lever Chemicals (Private) Limited and Levers Associated Pakistan Trust (Private) Limited and Sadiq (Private) Limited. Levers Associated Pakistan Trust (Private) Limited and Sadiq (Private) Limited act as trustees of Union Pakistan Provident Fund (Unilever Provident Fund). For the six months ended 30 June 2013, Unilever Pakistan Limited sales increased 8% to PKR30.1B. Net income decreased 4% to PKR2.32B. Sales reflect Home and Personal Care segment increase from PKR8.08B to PKR16.55B, Beverages segment increase from PKR3.26B to PKR9.02B, Ice Cream segment increase of 41% to PKR3.59B. Net income was offset by Ice Cream segment income decrease of 67% to PKR114M.

 

More Business Descriptions

Manufacture and distribution of branded consumer goods, including tea, margarine, cooking oil, soap, detergents, personal care products, shampoo, toothpaste and shaving cream

 

Food, Detergent & Personal Care Products Mfr

 

Soap and other detergents

 

Unilever Pakistan Ltd. (UNPL) is a consumer product manufacturer. The company manufactures and markets home and personal care products, beverages, ice cream, and spreads. UNPL operates through four reportable segments, namely, Home and Personal Care, Beverages (Tea), Ice Cream, and Spreads. Home and Personal Care segment of the company includes laundry and a wide range of cleaning, skin care, hair care and oral care products. Its home care division offers soaps and washing powders through the brand name, Surf excel. The company’s Personal care division offers a wide range of shampoos, tooth pastes, fairness creams, and soaps through its brands. The brands in Home and Personal Care segment include Surf excel, Lifebuoy, Sunsilk, Sunlight, Lux, and Fair & Lovely. For the fiscal year ended December 2012, the Home and Personal Care segment reported sale of PKR 34,359.84m, reflecting an increase of 17.71% over the sale of 2011. The segment accounted for 57.5% of the company’s total sale in 2012. Its Beverages (Tea) segment provides tea. The company offers tea through its brand names such as Lipton and Brooke Bond Supreme. For the fiscal year ended December 2012, the Beverages (Tea) segment reported sale of PKR 16,881.90m, reflecting an increase of 13.04% over the sale of 2011. The segment accounted for 28.2% of the company’s total sale in 2012. Ice Cream segment of the company offers various types of ice cream through its brand name, Walls. It provides ice creams of various kinds such as desserts, kid’s range, for family, bar, cup, and slices. For the fiscal year ended December 2012, the Ice Cream segment reported sale of PKR 6,723.74m, reflecting an increase of 9.13% over the sale of 2011. The segment accounted for 11.3% of the company’s total sale in 2012. Through its Spreads segment, UNPL offers products under the brand name, Blue Band Margarine. For the fiscal year ended December 2012, the Spreads segment reported sale of PKR 1,775.48m, reflecting an increase of 11.7% over the sale of 2011. The segment accounted for 3% of the company’s total sale in 2012. The company conducts its operation through subsidiaries such as Lever Chemicals (Private) Limited, Levers Associated Pakistan Trust (Private) Limited and Sadiq (Private) Limited and Unilever Overseas Holdings Limited.Geographically, the company, along with subsidiaries and regional offices operates across the regions of Pakistan.

 

Unilever Pakistan Ltd. (UNPL) is a home care solutions provider. The company manufactures and markets home and personal care products, beverages, ice cream, and spreads. UNPL operates through four reportable segments, namely, Home and Personal Care, Beverages (Tea), Ice Cream, and Spreads. Home and Personal Care segment of the company includes laundry and a wide range of cleaning, skin care, hair care and oral care products. Its Beverages (Tea) segment provides tea. Ice Cream segment of the company offers various types of ice cream through its brand name, Walls. It provides ice creams of various kinds such as desserts, kid’s range, for family, bar, cup, and slices. Through its Spreads segment, UNPL offers products under the brand name, Blue Band Margarine. The company conducts its operation through subsidiaries such as Lever Chemicals (Private) Limited, Levers Associated Pakistan Trust (Private) Limited and Sadiq (Private) Limited and Unilever Overseas Holdings Limited. UNPL is headquartered in Karachi, Pakistan.The company reported sales of (Pakistan Rupee) PKR 59,740.97 million during the fiscal year ended December 2012, an increase of 15.16% over 2011. The operating profit of the company was PKR 8,491.60 million during the fiscal year 2012, an increase of 37.68% over 2011. The net profit of the company was PKR 5,500.05 million during the fiscal year 2012, an increase of 33.96% over 2011.

 

Frozen Food Manufacturing

 

Brand/Trade Names

Blue Band

Dalda

Lux

Rexona

Lifebuoy

Surf

Sunsilk

Signal

Gibbs

Wall's

Brooke Bond

Lipton

Knorr

Fair & Lovely

 

Financial Data

Financials in:

PKR(mil)

 

Sale:

59,741.0

Net Income:

5,500.0

Assets:

18,442.7

Long Term Debt:

0.0

 

Total Liabilities:

13,121.7

 

Working Capital:

-1.4

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

15.2%

34.0%

15.0%

 

Market Data

Quote Symbol:

ULEVER

Exchange:

Karachi Stock Exchange

Currency:

PKR

Stock Price:

15,000.0

Stock Price Date:

09-11-2013

52 Week Price Change %:

62.3

Market Value (mil):

199,408,000.0

 

SEDOL:

6513193

ISIN:

PK0024901016

 


 

Subsidiaries

Company

Percentage Owned

Country

Lever Chemicals

100%

PAKISTAN

 

 

 

 

Shareholders

 

 

Major Shareholders

Unilever PLC via Unilever Overseas Holdings Limited (75.07%)

 

Key Corporate Relationships

Auditor:

A F Ferguson & Co.

Bank:

Habib Bank Ltd, National Bank of Pakistan, MCB Bank Limited

 

Auditor:

A F Ferguson & Co., A F Ferguson & Co

 

 

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

Unilever plc
Unilever Pakistan Limited

Unilever Pakistan Limited 
Total Corporate Family Members: 581 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Unilever plc

Parent

London

United Kingdom

Miscellaneous Chemical Manufacturing

65,949.1

172,000

Unilever US Inc

Subsidiary

Englewood Cliffs, NJ

United States

Department Stores

43,650.0

25,000

Unilever Best Foods

Subsidiary

Englewood Cliffs, NJ

United States

Grocery Stores

 

700

Unilever Best Foods

Branch

Covington, TN

United States

Grocery Stores

74.4

300

Unilever Bestfoods North America

Branch

Clearwater, FL

United States

Grocery Wholesale

 

200

Unilever Best Foods

Branch

Little Rock, AR

United States

Grocery Stores

31.2

129

Unilever Best Foods

Branch

Harrisburg, PA

United States

Grocery Stores

12.7

50

Unilever Best Foods

Branch

Chicago, IL

United States

Grocery Stores

0.8

3

Unilever Home & Personal Care

Subsidiary

Englewood Cliffs, NJ

United States

Department Stores

1,265.6

500

Unilever Home & Personal Care

Branch

Raeford, NC

United States

Department Stores

107.5

500

Unilever Home & Personal Care

Branch

Hammond, IN

United States

Department Stores

72.4

350

Unilever Home & Personal Care

Branch

Issaquah, WA

United States

Department Stores

0.5

2

Unilever Home & Personal Care

Branch

Trumbull, CT

United States

Department Stores

0.5

2

Unilever Home & Personal Care

Branch

Rolling Meadows, IL

United States

Department Stores

0.5

2

Unilever Home & Personal Care

Branch

Salt Lake City, UT

United States

Department Stores

0.5

2

Unilever Ice Cream

Branch

Sikeston, MO

United States

Food Manufacturing

264.8

500

Unilever

Branch

Independence, MO

United States

Department Stores

63.4

300

Unilever

Branch

Baltimore, MD

United States

Department Stores

56.2

250

Good Humor-Breyers Ice Cream

Subsidiary

Englewood Cliffs, NJ

United States

Food Manufacturing

 

240

Good Humor-Breyers Ice Cream

Branch

Clearwater, FL

United States

Food Manufacturing

124.8

300

Good Humor-Breyers Ice Cream

Branch

Framingham, MA

United States

Food Manufacturing

105.3

250

Good Humor-Breyers Ice Cream

Branch

Sikeston, MO

United States

Food Manufacturing

127.1

240

Good Humor-Breyers Ice Cream

Branch

West Linn, OR

United States

Food Manufacturing

123.1

240

Good Humor-Breyers Ice Cream

Branch

Hyattsville, MD

United States

Food Manufacturing

109.8

240

Good Humor-Breyers Ice Cream

Branch

Henderson, NV

United States

Food Manufacturing

85.4

200

Good Humor-Breyers Ice Cream

Branch

Huntington, IN

United States

Food Manufacturing

87.4

150

Good Humor-Breyers Ice Cream

Branch

Mt Vernon, NY

United States

Food Manufacturing

0.9

2

Unilever

Branch

New Century, KS

United States

Department Stores

44.4

220

Unilever

Branch

Atlanta, GA

United States

Department Stores

43.3

200

Unilever

Branch

City Of Industry, CA

United States

Department Stores

30.8

130

Unilever

Branch

Sunnyvale, CA

United States

Department Stores

23.7

100

Unilever

Branch

Jonesboro, AR

United States

Department Stores

16.5

80

Unilever

Branch

Eden Prairie, MN

United States

Department Stores

8.1

40

Unilever

Branch

Washington, DC

United States

Department Stores

 

4

Unilever

Branch

Burlington, VT

United States

Pharmacies and Personal Care Stores

0.6

3

Unilever

Branch

Los Angeles, CA

United States

Department Stores

0.5

2

Unilever

Branch

Trumbull, CT

United States

Department Stores

0.5

2

Unilever

Branch

New York, NY

United States

Department Stores

0.5

2

Unilever

Branch

Philadelphia, PA

United States

Department Stores

0.4

2

Unilever

Branch

Eldon, MO

United States

Department Stores

0.4

2

Unilever

Branch

Cumberland, RI

United States

Department Stores

0.4

2

Hindustan Unilever Limited

Subsidiary

Mumbai

India

Miscellaneous Chemical Manufacturing

5,065.4

15,000

Hindustan Unilever Limited

Branch

Vadodara, Gujarat

India

Food Manufacturing

1.3

59

Unilever India Exports Limited

Subsidiary

Mumbai, Maharashtra

India

Miscellaneous Chemical Manufacturing

213.5

 

Unilever Nepal Limited

Subsidiary

Kathmandu

Nepal

Miscellaneous Chemical Manufacturing

34.6

 

Ponds Exports Limited

Subsidiary

Chennai, Tamil Nadu

India

Clothing and Apparel Manufacturing

15.0

 

Hindustan Unilever Limited

Branch

Bengaluru, Karnataka

India

Food Manufacturing

 

 

Unilever United States, Inc.

Subsidiary

Englewood Cliffs, NJ

United States

Food Manufacturing

 

14,000

Unilever HPC USA, Inc.

Subsidiary

Jefferson City, MO

United States

Miscellaneous Chemical Manufacturing

105.6

500

St. Ives Laboratories, Inc.

Subsidiary

Chatsworth, CA

United States

Miscellaneous Chemical Manufacturing

6.1

150

Unilever

Subsidiary

Melrose Park, IL

United States

Miscellaneous Chemical Manufacturing

 

150

Unilever US Government & Public Affairs

Unit

Washington, DC

United States

Miscellaneous Professional Services

 

4

Conopco, Inc.

Subsidiary

Englewood Cliffs, NJ

United States

Food Manufacturing

 

3

Unilever Home & Personal Care USA

Facility

Trumbull, CT

United States

Research and Development Services

 

1,000

Conopco, Inc.

Branch

Corona, CA

United States

Food Manufacturing

 

5

Unilever Home & Personal Care USA

Facility

Clinton, CT

United States

Miscellaneous Chemical Manufacturing

116.4

500

Conopco

Facility

Hagerstown, MD

United States

Food Manufacturing

 

480

Conopco

Facility

Raeford, NC

United States

Miscellaneous Chemical Manufacturing

 

400

Conopco

Facility

Henderson, NV

United States

Food Manufacturing

 

400

Unilever Research & Development Co.

Unit

Trumbull, CT

United States

Research and Development Services

 

350

Conopco

Facility

Baltimore, MD

United States

Food Manufacturing

 

300

Unilever Food Solutions

Division

Lisle, IL

United States

Food Manufacturing

 

250

Unilever Foods North America

Branch

Owensboro, KY

United States

Grocery Wholesale

878.7

450

Unilever Lipton

Branch

Suffolk, VA

United States

Grocery Wholesale

617.4

360

Unilever Food Solutions

Branch

Stockton, CA

United States

Grocery Wholesale

787.4

350

Unilever

Facility

Chicago, IL

United States

Food Manufacturing

 

300

Unilever Food Solutions - Little Rock

Facility

Little Rock, AR

United States

Food Manufacturing

 

125

Conopco

Facility

Hoffman Estates, IL

United States

Miscellaneous Chemical Manufacturing

 

250

Conopco

Facility

Framingham, MA

United States

Food Manufacturing

 

250

Conopco

Facility

City of Industry, CA

United States

Miscellaneous Chemical Manufacturing

 

250

Conopco

Facility

Independence, MO

United States

Food Manufacturing

 

220

Conopco

Facility

New Century, KS

United States

Food Manufacturing

 

210

Conopco

Facility

Atlanta, GA

United States

Food Manufacturing

 

175

Slim-Fast Foods Company

Subsidiary

Englewood Cliffs, NJ

United States

Food Manufacturing

 

150

Conopco - Slim-Fast Foods

Facility

Covington, TN

United States

Food Manufacturing

0.7

400

Ben & Jerry's Homemade, Inc.

Subsidiary

South Burlington, VT

United States

Food Manufacturing

237.0

115

Ben & Jerry's

Branch

Waterbury, VT

United States

Restaurants and Bars

7.7

175

Ben & Jerry's Homemade

Facility

Waterbury, VT

United States

Restaurants and Bars

 

150

Ben & Jerry's

Branch

Memphis, TN

United States

Restaurants and Bars

4.4

100

Ben & Jerry's

Branch

Washington, DC

United States

Restaurants and Bars

3.2

40

Ben & Jerry's

Branch

Myrtle Beach, SC

United States

Restaurants and Bars

1.8

40

Ben & Jerry's

Branch

Myrtle Beach, SC

United States

Restaurants and Bars

1.8

40

Ben & Jerry's

Branch

Freeport, ME

United States

Restaurants and Bars

1.8

35

Ben & Jerry's

Branch

North Eastham, MA

United States

Restaurants and Bars

1.7

30

Ben & Jerry's

Branch

Yorktown, VA

United States

Restaurants and Bars

1.5

30

Ben & Jerry's

Branch

Uncasville, CT

United States

Restaurants and Bars

1.9

27

Ben & Jerry's

Branch

Englewood, NJ

United States

Restaurants and Bars

1.7

25

Ben & Jerry's

Branch

Mt Kisco, NY

United States

Restaurants and Bars

1.7

25

Ben & Jerry's

Branch

San Diego, CA

United States

Restaurants and Bars

1.5

25

Ben & Jerry's

Branch

San Diego, CA

United States

Restaurants and Bars

1.5

25

Ben & Jerry's

Branch

Burlington, VT

United States

Restaurants and Bars

1.1

25

Ben & Jerry's

Branch

Boston, MA

United States

Restaurants and Bars

1.2

20

Ben & Jerry's

Branch

Silver Spring, MD

United States

Restaurants and Bars

1.1

20

Ben & Jerry's

Branch

Bryan, TX

United States

Restaurants and Bars

1.0

20

Ben & Jerry's

Branch

Wayzata, MN

United States

Restaurants and Bars

0.9

20

Ben & Jerry's

Branch

Minneapolis, MN

United States

Restaurants and Bars

0.9

20

Ben & Jerry's

Branch

Ridgewood, NJ

United States

Restaurants and Bars

1.3

19

Ben & Jerry's

Branch

Charleston, SC

United States

Restaurants and Bars

0.9

19

Ben & Jerry's

Branch

Washington, DC

United States

Restaurants and Bars

1.5

18

Ben & Jerry's

Branch

Cleveland, OH

United States

Restaurants and Bars

0.7

18

Ben & Jerry's

Branch

Saratoga Springs, NY

United States

Restaurants and Bars

1.1

17

Ben & Jerry's

Branch

Lake Placid, NY

United States

Restaurants and Bars

1.1

17

Ben & Jerry's

Branch

Boston, MA

United States

Restaurants and Bars

0.9

16

Ben & Jerry's

Branch

Issaquah, WA

United States

Restaurants and Bars

0.9

16

Ben & Jerry's

Branch

Charlottesville, VA

United States

Restaurants and Bars

0.8

16

Ben & Jerry's

Branch

Providence, RI

United States

Restaurants and Bars

0.8

16

Ben & Jerry's

Branch

Atlantic City, NJ

United States

Restaurants and Bars

1.0

15

Ben & Jerry's

Branch

Lake George, NY

United States

Restaurants and Bars

1.0

15

Ben & Jerry's

Branch

Huntington, NY

United States

Restaurants and Bars

1.0

15

Ben & Jerry's

Branch

Chicago, IL

United States

Restaurants and Bars

0.8

15

Ben & Jerry's

Branch

Raleigh, NC

United States

Restaurants and Bars

0.7

15

Ben & Jerry's

Branch

Nashville, TN

United States

Restaurants and Bars

0.7

15

Ben & Jerry's

Branch

Sevierville, TN

United States

Restaurants and Bars

0.7

15

Ben & Jerry's

Branch

Detroit, MI

United States

Restaurants and Bars

0.6

15

Ben & Jerry's Homemade Ltd.

Subsidiary

Windsor

United Kingdom

Food Manufacturing

 

15

Ben & Jerry's

Branch

Williamsburg, VA

United States

Restaurants and Bars

0.7

14

Ben & Jerry's

Branch

Eugene, OR

United States

Restaurants and Bars

0.7

14

Ben & Jerry's

Branch

Roanoke, VA

United States

Restaurants and Bars

0.7

13

Ben & Jerry's

Branch

Fort Collins, CO

United States

Restaurants and Bars

0.6

13

Ben & Jerry's

Branch

Gatlinburg, TN

United States

Restaurants and Bars

0.6

13

Ben & Jerry's

Branch

Biloxi, MS

United States

Restaurants and Bars

0.7

12

Ben & Jerry's

Branch

Foxboro, MA

United States

Restaurants and Bars

0.7

12

Ben & Jerry's

Branch

Chicago, IL

United States

Restaurants and Bars

0.7

12

Ben & Jerry's

Branch

Tukwila, WA

United States

Restaurants and Bars

0.6

12

Ben & Jerry's

Branch

Christiansburg, VA

United States

Restaurants and Bars

0.6

12

Ben & Jerry's

Branch

Portland, OR

United States

Restaurants and Bars

0.6

12

Ben & Jerry's

Branch

Denver, CO

United States

Restaurants and Bars

0.6

12

Ben & Jerry's

Branch

Sugar Land, TX

United States

Restaurants and Bars

0.6

12

Ben & Jerry's

Branch

Emerald Isle, NC

United States

Restaurants and Bars

0.6

12

Ben & Jerry's

Branch

Myrtle Beach, SC

United States

Restaurants and Bars

0.6

12

Ben & Jerry's

Branch

West Hartford, CT

United States

Restaurants and Bars

0.8

11

Ben & Jerry's

Branch

Hoboken, NJ

United States

Restaurants and Bars

0.8

11

Ben & Jerry's

Branch

Oakland, CA

United States

Restaurants and Bars

0.7

11

Ben & Jerry's

Branch

Davis, CA

United States

Restaurants and Bars

0.7

11

Ben & Jerry's

Branch

Cambridge, MA

United States

Restaurants and Bars

0.6

11

Ben & Jerry's

Branch

Boston, MA

United States

Restaurants and Bars

0.6

11

Ben & Jerry's

Branch

Portland, OR

United States

Restaurants and Bars

0.6

11

Ben & Jerry's

Branch

Boulder, CO

United States

Restaurants and Bars

0.5

11

Ben & Jerry's

Branch

Las Vegas, NV

United States

Restaurants and Bars

0.9

10

Ben & Jerry's

Branch

Las Vegas, NV

United States

Restaurants and Bars

0.9

10

Ben & Jerry's

Branch

Las Vegas, NV

United States

Restaurants and Bars

0.9

10

Ben & Jerry's

Branch

Las Vegas, NV

United States

Restaurants and Bars

0.9

10

Ben & Jerry's

Branch

Kahului, HI

United States

Restaurants and Bars

0.8

10

Ben & Jerry's

Branch

Washington, DC

United States

Restaurants and Bars

0.8

10

Ben & Jerry's

Branch

Ledyard, CT

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Cape May, NJ

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Atlantic City, NJ

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Edgewater, NJ

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Hazlet, NJ

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Newark, NJ

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

New York, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Pittsford, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Mt Sinai, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

White Plains, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Elmsford, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Jamaica, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

New York, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Troy, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Staten Island, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Bronx, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Flushing, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Brooklyn, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Holtsville, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Rochester, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Bronx, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Bolton Landing, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

New York, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Montauk, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Montauk, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Bolton Landing, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Westhampton Bch, NY

United States

Restaurants and Bars

0.7

10

Ben & Jerry's

Branch

Rancho Mirage, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

San Diego, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Universal City, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Northridge, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Bakersfield, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Sonoma, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Ventura, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Porter Ranch, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Roseville, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Los Angeles, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Olympic Valley, CA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Salem, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Natick, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Provincetown, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Pittsfield, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Revere, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Dedham, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Lowell, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Springfield, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Lawrence, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Randolph, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

West Springfield, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Worcester, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Hyannis, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Woburn, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

North Attleboro, MA

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Davie, FL

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Naples, FL

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Kissimmee, FL

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Orlando, FL

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Orlando, FL

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Hollywood, FL

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Hallandale Beach, FL

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Frederick, MD

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Oxon Hill, MD

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Hanover, MD

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Baltimore, MD

United States

Restaurants and Bars

0.6

10

Ben & Jerry's

Branch

Chicago, IL

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Chicago, IL

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Chicago, IL

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Seattle, WA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

South Portland, ME

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Freeport, ME

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Reston, VA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Virginia Beach, VA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Virginia Beach, VA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Portland, OR

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Lone Tree, CO

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Mckinney, TX

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Galveston, TX

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Dallas, TX

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Lewisville, TX

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Houston, TX

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Houston, TX

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Newport, RI

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Newport, RI

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Athens, GA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Manchester, NH

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Edina, MN

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Shakopee, MN

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

St Paul, MN

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Raleigh, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Davidson, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Charlotte, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Greensboro, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Raleigh, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Charlotte, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Jacksonville, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Gastonia, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Huntersville, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Jacksonville, NC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Pittsburgh, PA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Pittsburgh, PA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Philadelphia, PA

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Albuquerque, NM

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Florence, IN

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

St Peters, MO

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

St Louis, MO

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Hazelwood, MO

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

St Louis, MO

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Myrtle Beach, SC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Greenville, SC

United States

Restaurants and Bars

0.5

10

Ben & Jerry's

Branch

Collierville, TN

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Jeffersonville, VT

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Manchester Ctr, VT

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

South Burlington, VT

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Burlington, VT

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Ann Arbor, MI

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Ypsilanti, MI

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Flint, MI

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Royal Oak, MI

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Boise, ID

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Louisville, KY

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Beavercreek, OH

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Cincinnati, OH

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Madison, WI

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Kenosha, WI

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Cincinnati, OH

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Overland Park, KS

United States

Restaurants and Bars

0.4

10

Ben & Jerry's

Branch

Las Vegas, NV

United States

Restaurants and Bars

0.8

9

Ben & Jerry's

Branch

San Jose, CA

United States

Restaurants and Bars

0.5

9

Ben & Jerry's

Branch

Glenview, IL

United States

Restaurants and Bars

0.5

9

Ben & Jerry's

Branch

Kennebunkport, ME

United States

Restaurants and Bars

0.5

9

Ben & Jerry's

Branch

Portland, OR

United States

Restaurants and Bars

0.5

9

Ben & Jerry's

Branch

Mcallen, TX

United States

Restaurants and Bars

0.4

9

Ben & Jerry's

Branch

St Louis, MO

United States

Restaurants and Bars

0.4

9

Ben & Jerry's

Branch

St Louis, MO

United States

Restaurants and Bars

0.4

9

Ben & Jerry's

Branch

Canton, CT

United States

Restaurants and Bars

0.6

8

Ben & Jerry's

Branch

Westport, CT

United States

Restaurants and Bars

0.6

8

Ben & Jerry's

Branch

New York, NY

United States

Restaurants and Bars

0.5

8

Ben & Jerry's

Branch

Albany, NY

United States

Restaurants and Bars

0.5

8

Ben & Jerry's

Branch

Santa Barbara, CA

United States

Restaurants and Bars

0.5

8

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.5

8

Ben & Jerry's

Branch

Berkeley, CA

United States

Restaurants and Bars

0.5

8

Ben & Jerry's

Branch

Spokane, WA

United States

Restaurants and Bars

0.4

8

Ben & Jerry's

Branch

Gig Harbor, WA

United States

Restaurants and Bars

0.4

8

Ben & Jerry's

Branch

Charlotte, NC

United States

Restaurants and Bars

0.4

8

Ben & Jerry's

Branch

Durham, NC

United States

Restaurants and Bars

0.4

8

Ben & Jerry's

Branch

Nashville, TN

United States

Restaurants and Bars

0.4

8

Ben & Jerry's

Branch

Niagara Falls, NY

United States

Restaurants and Bars

0.5

7

Ben & Jerry's

Branch

Sherman Oaks, CA

United States

Restaurants and Bars

0.4

7

Ben & Jerry's

Branch

Napa, CA

United States

Restaurants and Bars

0.4

7

Ben & Jerry's

Branch

Delray Beach, FL

United States

Restaurants and Bars

0.4

7

Ben & Jerry's

Branch

Tampa, FL

United States

Restaurants and Bars

0.4

7

Ben & Jerry's

Branch

Palatine, IL

United States

Restaurants and Bars

0.4

7

Ben & Jerry's

Branch

Portland, OR

United States

Restaurants and Bars

0.4

7

Ben & Jerry's

Branch

Columbus, GA

United States

Restaurants and Bars

0.3

7

Ben & Jerry's

Branch

Chapel Hill, NC

United States

Restaurants and Bars

0.3

7

Ben & Jerry's

Branch

Philadelphia, PA

United States

Restaurants and Bars

0.3

7

Ben & Jerry's

Branch

Rutland, VT

United States

Restaurants and Bars

0.3

7

Ben & Jerry's

Branch

Dayton, OH

United States

Restaurants and Bars

0.3

7

Ben & Jerry's

Branch

Henderson, NV

United States

Restaurants and Bars

0.5

6

Ben & Jerry's

Branch

Las Vegas, NV

United States

Restaurants and Bars

0.5

6

Ben & Jerry's

Branch

Branford, CT

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

West New York, NJ

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

Greenbrae, CA

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

Etiwanda, CA

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

Santa Monica, CA

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

Mammoth Lakes, CA

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

Burbank, CA

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

Long Beach, CA

United States

Restaurants and Bars

0.4

6

Ben & Jerry's

Branch

Deerfield Beach, FL

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

Scottsdale, AZ

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

Bend, OR

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

Eugene, OR

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

Lakewood, CO

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

San Antonio, TX

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

Chattanooga, TN

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

Huntsville, AL

United States

Restaurants and Bars

0.3

6

Ben & Jerry's

Branch

Henderson, NV

United States

Restaurants and Bars

0.4

5

Ben & Jerry's

Branch

Kaneohe, HI

United States

Restaurants and Bars

0.4

5

Ben & Jerry's

Branch

Palm Springs, CA

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Los Angeles, CA

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Tustin, CA

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Sarasota, FL

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Rockville, MD

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Bethesda, MD

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

St Charles, IL

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Norfolk, VA

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Radford, VA

United States

Restaurants and Bars

0.3

5

Ben & Jerry's

Branch

Plano, TX

United States

Restaurants and Bars

0.2

5

Ben & Jerry's

Branch

Webster, TX

United States

Restaurants and Bars

0.2

5

Ben & Jerry's

Branch

Philadelphia, PA

United States

Restaurants and Bars

0.2

5

Ben & Jerry's

Branch

Isle Of Palms, SC

United States

Restaurants and Bars

0.2

5

Ben & Jerry's

Branch

Ventura, CA

United States

Restaurants and Bars

0.2

4

Ben & Jerry's

Branch

Coral Gables, FL

United States

Restaurants and Bars

0.2

4

Ben & Jerry's

Branch

Oak Park, IL

United States

Restaurants and Bars

0.2

4

Ben & Jerry's

Branch

Ogunquit, ME

United States

Restaurants and Bars

0.2

4

Ben & Jerry's

Branch

Sterling, VA

United States

Restaurants and Bars

0.2

4

Ben & Jerry's

Branch

North Conway, NH

United States

Restaurants and Bars

0.2

4

Ben & Jerry's

Branch

San Francisco, CA

United States

Restaurants and Bars

0.2

3

Ben & Jerry's

Branch

Santa Clarita, CA

United States

Restaurants and Bars

0.1

2

Ben & Jerry's

Branch

Meredith, NH

United States

Restaurants and Bars

0.1

2

Ben & Jerry's

Branch

St Albans, VT

United States

Restaurants and Bars

0.1

2

Ben & Jerry's

Branch

Henderson, NV

United States

Restaurants and Bars

0.1

1

Ben & Jerry's

Branch

Kirkland, WA

United States

Restaurants and Bars

0.1

1

Conopco

Facility

Jefferson City, MO

United States

Miscellaneous Chemical Manufacturing

 

100

Conopco

Facility

Harrisburg, PA

United States

Food Manufacturing

 

50

Conopco

Facility

Loveland, OH

United States

Food Manufacturing

 

1

Unilever Pakistan Foods Limited

Subsidiary

Karachi

Pakistan

Food Manufacturing

59.4

 

Unilever Capital Corporation

Subsidiary

Englewood Cliffs, NJ

United States

Investment Services

 

 

Royal Estates Tea Company

Subsidiary

Englewood Cliffs, NJ

United States

Food Manufacturing

 

 

Unilever Brasil Ltda.

Subsidiary

São Paulo, SP

Brazil

Miscellaneous Chemical Manufacturing

6,760.1

12,064

Unilever Brasil Higiene Pessoal E Limpeza Ltda.

Subsidiary

Vinhedo, Sao Paulo

Brazil

Miscellaneous Chemical Manufacturing

 

500

Unilever Brasil Nordeste Produtos De Limpeza S/A.

Subsidiary

Igarassu, Pernambuco

Brazil

Miscellaneous Chemical Manufacturing

82.0

146

Unilever Brasil Gelados Do Nordeste S/A.

Subsidiary

Jaboatão Guararapes, Pernambuco

Brazil

Food Manufacturing

220.5

 

Arisco Industrial Ltda

Subsidiary

São Paulo, SP

Brazil

Food Manufacturing

 

 

Unilever Bangladesh Limited

Subsidiary

Dhaka

Bangladesh

Miscellaneous Chemical Manufacturing

 

10,000

Unilever Rus

Subsidiary

Moscow

Russian Federation

Miscellaneous Chemical Manufacturing

1,034.1

6,500

Unilever Italia Srl

Subsidiary

Rome

Italy

Food Manufacturing

 

5,000

Unilever UK Ltd.

Subsidiary

Leatherhead

United Kingdom

Food Manufacturing

3,177.8

4,340

Alberto-Culver Co. (U.K.) Ltd.

Subsidiary

Swansea

United Kingdom

Holding Companies

181.2

258

Unilever Ireland Limited

Subsidiary

Dublin

Ireland

Grocery Wholesale

328.0

210

Unilever UK Ltd.

UK Branch/Trading address

Gloucester

United Kingdom

Food Manufacturing

3,177.8

 

Unilever UK Ltd.

UK Branch/Trading address

Norwich

United Kingdom

Food Manufacturing

3,177.8

 

Unilever UK Ltd.

UK Branch/Trading address

Slough

United Kingdom

Food Manufacturing

3,177.8

 

Unilever UK Ltd.

UK Branch/Trading address

Burton On Trent

United Kingdom

Food Manufacturing

3,177.8

 

Unilever UK Ltd.

UK Branch/Trading address

Leeds

United Kingdom

Food Manufacturing

3,177.8

 

Unilever UK Ltd.

UK Branch/Trading address

Warrington

United Kingdom

Food Manufacturing

3,177.8

 

Unilever UK Ltd.

UK Branch/Trading address

Kingston Upon Thames

United Kingdom

Food Manufacturing

3,177.8

 

Unilever Bestfoods UK Ltd

Subsidiary

Kingston-Upon-Thames

United Kingdom

Grocery Wholesale

238.6

 

Unilever Bestfoods UK Ltd.

Subsidiary

Norwich

United Kingdom

Food Manufacturing

234.0

 

Unilever UK Foods

Subsidiary

Leatherhead

United Kingdom

Food Manufacturing

250.0

1,000

Unilever Bestfoods Ltd.

UK Branch/Trading address

Newport

United Kingdom

Food Manufacturing

234.0

220

Unilever de Argentina S.A.

Subsidiary

Buenos Aires

Argentina

Food Manufacturing

1,308.7

4,300

Unilever de México, S. de R.L. de C.V.

Subsidiary

México, D.F.

Mexico

Grocery Wholesale

1,341.0

4,120

Unilever Polska S.A.

Subsidiary

Warszawa

Poland

Miscellaneous Chemical Manufacturing

972.6

3,329

Unilever Poland Services Sp Z O O

Subsidiary

Warszawa

Poland

Trucking

9.8

250

Kalina Concern Joint Stock Company

Subsidiary

Ekaterinburg

Russian Federation

Miscellaneous Chemical Manufacturing

420.6

3,200

Dr Scheller Cosmetics AG

Subsidiary

Eislingen

Germany

Miscellaneous Chemical Manufacturing

140.5

240

Dr. Scheller Cosmetics Polska Sp. z o.o.

Subsidiary

Wroclaw, Lower Silesian

Poland

Health and Personal Care Wholesale

 

35

Lady Manhattan Ltd.

Subsidiary

Croydon

United Kingdom

Miscellaneous Professional Services

0.0

 

Lady Manhattan Cosmetics GmbH

Subsidiary

Stuttgart, Baden-Wurttemberg

Germany

Miscellaneous Chemical Manufacturing

 

 

Glavskazka International LLC

Subsidiary

Yekaterinburg, Sverdlovsk

Russian Federation

Miscellaneous Chemical Manufacturing

 

50

Pallada-Ukraine Subsidiary Company Of Kalina Concern Open Joint Stock Company

Subsidiary

Kyiv

Ukraine

Health and Personal Care Wholesale

19.9

4

Sun Products Corp

Subsidiary

Salt Lake City, UT

United States

Machinery Wholesale

6,414.3

3,000

Sun Products Corp

Subsidiary

Salt Lake City, UT

United States

Machinery Wholesale

213.8

100

Unilever South Africa (Pty) Limited

Subsidiary

Durban

South Africa

Food Manufacturing

 

3,000

Unilever Vietnam International Company Ltd

Subsidiary

Ho Chi Minh City

Viet Nam

Miscellaneous Chemical Manufacturing

 

3,000

Unilever de Mexico S de RL de CV

Subsidiary

Mexico

Mexico

Grocery Wholesale

 

2,500

Unilever Market Development (Pty) Ltd

Subsidiary

Durban

South Africa

Miscellaneous Chemical Manufacturing

 

2,500

Unilever Thai Trading Ltd

Subsidiary

Bangkok

Thailand

Chemical Wholesale

1,013.0

2,000

Unilever Pakistan Limited

Subsidiary

Karachi

Pakistan

Miscellaneous Chemical Manufacturing

640.0

1,677

Unilever Australasia

Subsidiary

Epping, NSW

Australia

Food Manufacturing

1,659.5

1,600

Unilever Australia Limited

Subsidiary

Epping, NSW

Australia

Miscellaneous Chemical Manufacturing

 

1,520

Streets Ice Cream Pty. Ltd.

Subsidiary

Epping, NSW

Australia

Food Manufacturing

 

400

Unilever New Zealand Ltd.

Subsidiary

Auckland

New Zealand

Miscellaneous Chemical Manufacturing

 

50

Unilever Schweiz GmbH

Subsidiary

Thayngen

Switzerland

Miscellaneous Chemical Manufacturing

699.1

1,200

Unilever Philippines Inc

Subsidiary

Metro Manila

Philippines

Miscellaneous Chemical Manufacturing

796.7

1,100

Unilever Rfm Ice Cream, Inc.

Subsidiary

 

 

 

 

 

Unilever Rfm Ice Cream, Inc.

Branch

Mandaluyong

Philippines

Food Manufacturing

 

 

Unilever Sri Lanka Limited

Subsidiary

Colombo

Sri Lanka

Miscellaneous Chemical Manufacturing

 

1,100

Unilever PLC

Subsidiary

London

United Kingdom

Miscellaneous Chemical Manufacturing

1,000.0

1,000

Unilever U.K. Holdings Ltd.

Subsidiary

Walton-On-Thames

United Kingdom

Miscellaneous Professional Services

 

1,000

Unilever UK & Cn Holdings Ltd.

Subsidiary

Newport

United Kingdom

Miscellaneous Professional Services

 

175

Unilever Foods (Malaysia) Sdn. Bhd.

Subsidiary

Kuala Lumpur

Malaysia

Food Manufacturing

50.3

160

Total Refrigeration Ltd.

Subsidiary

Hyde

United Kingdom

Miscellaneous Personal Services

15.6

30

Unilever UK Group Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Ventures Ltd.

Subsidiary

London

United Kingdom

Food Manufacturing

4.6

13

Iota Nanosolutions Ltd.

Subsidiary

Liverpool

United Kingdom

Architecture and Engineering

0.8

13

Hpl Realisations Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Chemical Manufacturing

0.0

8

Unidis Forty Nine Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

New Hovema Ltd.(The)

Subsidiary

London

United Kingdom

 

 

 

Alleggra Foods Ltd.

Subsidiary

Teddington

United Kingdom

Food Manufacturing

 

3

Blackfriars Nominees Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever U.K. Central Resources Ltd.

Subsidiary

London

United Kingdom

Research and Development Services

1,309.2

2,869

Unilever Lp(Colworth Park) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

4.9

 

Unilever Co. For Regional Marketing And Research Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

4

Unilever Co. For Industrial Development Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Wholesale

 

2

Unilever Overseas Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Tigi Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

0.9

 

Tigi-Wear Ltd.

Subsidiary

London

United Kingdom

Clothing and Apparel Stores

15.2

135

Tigi 1952 Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

25

Tigi Ip Ltd.

Subsidiary

London

United Kingdom

 

 

 

Roma Vision Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Tigi (Canada) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

0.0

 

Innovia Design Ltd.

Subsidiary

London

United Kingdom

Personal Care Services

 

 

Unilever Australia Services Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever International Market Development Co. Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Lever Brothers Port Sunlight Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Uml Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

U.A.C. Holdings Ltd.

Subsidiary

London

United Kingdom

Holding Companies

 

 

Associated Enterprises Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Uac International Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Overseas Buying Services Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Brooke Bond Foods Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Bbg Investments (France) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Brooke Bond South India Estates Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Jerónimo Martins Lda

Subsidiary

Lisboa

Portugal

Grocery Wholesale

409.5

416

Olá - Produção De Gelados E Outros Produtos Alimentares, S.A.

Subsidiary

Lisboa, Lisboa

Portugal

Food Manufacturing

48.0

202

Fima - Produtos Alimentares, S.A.

Subsidiary

Lisboa, Lisboa

Portugal

Food Manufacturing

76.0

154

Rizofoor B.V.

Subsidiary

Rotterdam, Zuid-Holland

Netherlands

Pensions and Funds

 

 

Dosan Konserve Sanayii Ve Ticaret A S

Subsidiary

Istanbul (Anatolia)

Turkey

Food Manufacturing

 

257

Unilever Polska S A

Subsidiary

Warszawa

Poland

Miscellaneous Chemical Manufacturing

151.4

 

Unilever UK Pension Fund Trustees Ltd.

Subsidiary

Leatherhead

United Kingdom

Miscellaneous Professional Services

 

 

Unidis Nineteen Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

 

Bluerock Ltd.

Subsidiary

London

United Kingdom

 

 

 

Unidis Sixty Six Ltd.

Subsidiary

London

United Kingdom

Nonclassifiable Establishments

 

 

Thames Side Properties Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Margarine Union (1930) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Employee Benefit Trustees Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Usf Nominees Ltd.

Subsidiary

Leatherhead

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Pension Trust Ltd.

Subsidiary

Leatherhead

United Kingdom

Miscellaneous Professional Services

 

 

Unilever General Partner (Colworth Park) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Pamol (Sabah) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Co. Of African Merchants Ltd.,(The)

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Superannuation Trustees Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever UK Supplementary Pension Fund Trustee Ltd.

Subsidiary

Leatherhead

United Kingdom

Miscellaneous Personal Services

 

 

Unilever Ventures Coinvestment (General Partner) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Froosh International Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Hydra Dispersants Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Parogle Technologies Ltd.

Subsidiary

London

United Kingdom

Architecture and Engineering

 

 

Unilever Magyarország Kereskedelmi Kft

Subsidiary

Budapest

Hungary

Miscellaneous Chemical Manufacturing

398.5

989

Unilever Ghana Limited

Subsidiary

Accra

Ghana

Miscellaneous Chemical Manufacturing

152.8

900

Unilever Kenya Ltd.

Subsidiary

Nairobi

Kenya

Food Manufacturing

 

800

Unilever Foods Philippines (CMC) Inc

Subsidiary

Manila

Philippines

Food Manufacturing

 

750

Unilever Canada

Subsidiary

Toronto, ON

Canada

Food Manufacturing

 

750

Lipton

Branch

Brampton, ON

Canada

Grocery Wholesale

322.8

290

Unilever Canada Inc

Branch

Markham, ON

Canada

Food Manufacturing

53.8

100

Breyers

Branch

Calgary, AB

Canada

Restaurants and Bars

1.9

35

Ben & Jerry's

Branch

Concord, ON

Canada

Restaurants and Bars

0.5

10

Unilever Foodsolutions

Branch

Langley, BC

Canada

Miscellaneous Wholesale

10.5

7

Ben & Jerry's

Branch

Montreal, QC

Canada

Restaurants and Bars

0.4

7

Ben & Jerry's

Branch

Montreal, QC

Canada

Restaurants and Bars

0.3

5

Unilever Japan KK

Subsidiary

Tokyo

Japan

Food Manufacturing

 

720

Unilever Andina Colombia Ltda

Subsidiary

Bogotá DC

Colombia

Miscellaneous Chemical Manufacturing

464.0

700

Unilever España Sa

Subsidiary

Viladecans, Barcelona

Spain

Food Manufacturing

782.8

603

Unilever Bestfoods Brasil Ltda

Subsidiary

Sao Paulo

Brazil

Food Manufacturing

 

500

Unilever Nederland B.V.

Subsidiary

Oss

Netherlands

Food Manufacturing

 

420

Unilever

Subsidiary

Rotterdam

Netherlands

Holding Companies

 

 

Unilever Indonesia Tbk PT

Subsidiary

Jakarta

Indonesia

Miscellaneous Chemical Manufacturing

2,916.1

7,445

Unilever Body Care Indonesia

Subsidiary

Jakarta

Indonesia

Miscellaneous Chemical Manufacturing

 

140

Unilever Korea Ltd.

Subsidiary

Taejon, Taejon

Korea, Republic of

Miscellaneous Chemical Manufacturing

50.2

 

Marga BV

Subsidiary

Rotterdam

Netherlands

Holding Companies

 

 

Unilever Home & Personal Care International B.V.

Subsidiary

Rotterdam, Zuid-Holland

Netherlands

Miscellaneous Wholesale

 

500

Unilever Finland Oy

Subsidiary

Helsinki

Finland

Food Manufacturing

289.2

136

Unilever Insurances N.V.

Subsidiary

Rotterdam, Zuid-Holland

Netherlands

Life and Health Insurance

 

8

Rizofoor GmbH

Subsidiary

Stavenhagen, Reuterstadt, Mecklenburg-Vorpommern

Germany

Consulting Services

 

2

Unilever Bulgaria Holding Eood

Subsidiary

Sofia

Bulgaria

Holding Companies

 

 

Unilever Caribbean Limited

Subsidiary

Champs Fleurs

Trinidad and Tobago

Miscellaneous Chemical Manufacturing

82.4

416

Unilever South East Africa Ltd

Subsidiary

Harare

Zimbabwe

Food Manufacturing

 

400

Unilever Gulf Fze

Subsidiary

Dubai, Dubai

United Arab Emirates

Grocery Wholesale

 

400

Unilever Sverige AB

Subsidiary

Solna

Sweden

Miscellaneous Chemical Manufacturing

612.1

399

Elais - Unilever Hellas SA

Subsidiary

Piraeus

Greece

Miscellaneous Chemical Manufacturing

712.2

380

Unilever Tunisie

Subsidiary

Tunis

Tunisia

Miscellaneous Chemical Manufacturing

 

380

Unilever Belgium - Unilever Belgique - Unilever Belgie

Subsidiary

Bruxelles

Belgium

Miscellaneous Chemical Manufacturing

817.2

359

Unilever Lipton Tea

Subsidiary

Bruxelles

Belgium

Food Manufacturing

26.5

155

Pfanni GmbH & Co. OHG

Subsidiary

Stavenhagen, Reuterstadt, Mecklenburg-Vorpommern

Germany

Food Manufacturing

 

308

Unilever Deutschland Produktions GmbH & Co. OHG

Subsidiary

Hamburg, Hamburg

Germany

Miscellaneous Chemical Manufacturing

 

300

Unilever Iran P.J.S.C

Subsidiary

Tehran

Iran

Health and Personal Care Wholesale

 

300

Unilever Andina Bolivia S.A.

Subsidiary

Cochabamba

Bolivia

Miscellaneous Chemical Manufacturing

 

300

Unilever Romania Sa

Subsidiary

Ploiesti

Romania

Miscellaneous Chemical Manufacturing

18.9

299

Binzagr Unilever Company Ltd

Subsidiary

Jeddah

Saudi Arabia

Miscellaneous Chemical Manufacturing

53.3

260

Unilever Deutschland Holding GmbH

Subsidiary

Hamburg, Hamburg

Germany

Food Manufacturing

80.9

235

Unilever Deutschland Services GmbH

Subsidiary

Hamburg, Hamburg

Germany

Miscellaneous Transportation Services

72.2

440

UBG Vermietungs GmbH

Subsidiary

Stavenhagen, Reuterstadt, Mecklenburg-Vorpommern

Germany

Motor Vehicle Rental

27.9

2

Sime Darby Unimills B.V.

Subsidiary

Zwijndrecht

Netherlands

Food Manufacturing

528.9

230

Unilever Danmark A/S

Subsidiary

København S

Denmark

Holding Companies

183.3

201

Unilever Chile S.A.

Subsidiary

Santiago

Chile

Miscellaneous Chemical Manufacturing

257.0

200

Unilever Pakistan Food Ltd.

Subsidiary

Karachi

Pakistan

Food Manufacturing

52.9

192

Unilever Hong Kong Ltd.

Subsidiary

Hong Kong, New Territories

Hong Kong

Miscellaneous Chemical Manufacturing

76.8

180

Unilever Services (Hei Fei) Co. Limited

Subsidiary

Beijing

China

Food Manufacturing

 

170

Knorr Alimentaria S.A.

Subsidiary

Santo Domingo

Dominican Republic

Food Manufacturing

 

160

Victor Guedes-Industria e Comercio, S.A.

Subsidiary

Lisbon, P-1070-184

Portugal

Food Manufacturing

134.0

150

Unilever Arabia

Subsidiary

Jeddah

Saudi Arabia

Miscellaneous Chemical Manufacturing

36.8

150

Unilever Asia Pte Ltd

Subsidiary

Singapore

Singapore

Executive and Legislature

 

150

Unilever Andina Peru S.A.

Subsidiary

Lima

Peru

Miscellaneous Chemical Manufacturing

 

120

Unilever Produktion Ab

Subsidiary

Helsingborg, Skåne

Sweden

Nonclassifiable Establishments

 

100

Unilever Asia Private Ltd.

Subsidiary

Singapore

Singapore

Administrative Services

3,821.0

72

TIGI HAIRCARE GmbH

Subsidiary

Herrenberg, Baden-Württemberg

Germany

Professional and Commercial Equipment Wholesale

 

62

Voltea Ltd.

Subsidiary

London

United Kingdom

Waste Management

2.1

37

Unilever Produktion ApS

Subsidiary

Odense C, 5

Denmark

Miscellaneous Chemical Manufacturing

19.6

35

Unilever Corporate Ventures Ltd.

Subsidiary

London

United Kingdom

Banking

 

25

Unilever Services España Sa

Subsidiary

Viladecans, Barcelona

Spain

Miscellaneous Professional Services

2.1

22

Sara Lee Household and Body Care Österreich GmbH

Subsidiary

Wien

Austria

Miscellaneous Chemical Manufacturing

10.5

20

Unilever International Paris SAS

Subsidiary

Rueil Malmaison

France

Chemical Wholesale

8.9

20

Unilever Schweiz Service AG

Subsidiary

Schaffhausen, Schaffhausen

Switzerland

Holding Companies

660.0

15

Catexel Ltd.

Subsidiary

London

United Kingdom

Architecture and Engineering

2.0

6

Unilever De México, S.A. De C.V.

Subsidiary

Ciudad De Mexico, Distrito Federal

Mexico

Grocery Wholesale

 

5

Unilever PLC

UK Branch/Trading address

Blackfriars

United Kingdom

Miscellaneous Chemical Manufacturing

65,949.1

 

Unilever South Africa Holdings (Pty) Ltd

Subsidiary

Pietermaritzburg, Kwazulu-Natal

South Africa

Food Manufacturing

6,406.1

 

Unilever South Africa (Pty) Ltd

Subsidiary

Durban North, Kwazulu-Natal

South Africa

Basic Chemical Manufacturing

6,252.4

 

Yunilever Rus Ooo

Subsidiary

Moscow

Russian Federation

Grocery Wholesale

1,034.1

 

Yunilever Rus Ooo

Branch

Omsk

Russian Federation

Food Manufacturing

323.8

4,789

Yuniliver Ukraina, Tov

Subsidiary

Kyiv

Ukraine

Nonclassifiable Establishments

98.8

 

Toni & Guy Products Ltd.

Subsidiary

London

United Kingdom

Personal Care Services

0.0

 

Brooke Bond Group Ltd.

Subsidiary

 

United Kingdom

Miscellaneous Professional Services

 

 

Brooke Bond Assam Estates Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Zimbabwe

Subsidiary

Harare

Zimbabwe

Basic Chemical Manufacturing

 

 

Unilever Bangladesh Limited

Subsidiary

Dhaka

Bangladesh

Grocery Wholesale

 

 

United Holdings Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

C P C (UK) Pension Trust Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Simple Health & Beauty Group Ltd.

Subsidiary

Solihull

United Kingdom

Miscellaneous Professional Services

 

 

Accantia Group Holdings

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Accantia Ltd.

Subsidiary

Leatherhead

United Kingdom

Miscellaneous Professional Services

 

1,400

Simple Toiletries Ltd.

Subsidiary

Leatherhead

United Kingdom

Health and Personal Care Wholesale

78.6

23

Simple Health & Beauty Ltd.

Subsidiary

Leatherhead

United Kingdom

Miscellaneous Professional Services

 

50

Accantia (Holdings) Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Accantia Employee Benefits Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Us Investments Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Mixhold Investments Ltd.

Subsidiary

London

United Kingdom

Miscellaneous Professional Services

 

 

Unilever Korea Ltd.

Subsidiary

Seoul

Korea, Republic of

Health and Personal Care Wholesale

 

 

Unilever Mashreq

Subsidiary

Alexandria

Egypt

Miscellaneous Professional Services

 

 

UNILEVER EESTI OU

Subsidiary

Tallinn

Estonia

Food Manufacturing

 

 

Unilever Croatia, D.O.O.- U Likvidaciji

Subsidiary

Zagreb

Croatia

Machinery Wholesale

 

 

Unilever Uk Home And Personal Care

Subsidiary

Leatherhead

United Kingdom

Food Manufacturing

 

 

Unilever Bestfoods UK Ltd.

Subsidiary

Newtownabbey

United Kingdom

 

 

 

Essensuals Products Ltd.

Subsidiary

London

United Kingdom

Personal Care Services

 

 

Unilever Bestfoods HK Ltd.

Subsidiary

Tai Po

Hong Kong

Food Manufacturing

 

 

Unilever South Central Europe SA

Subsidiary

Bucharest

Romania

Miscellaneous Chemical Manufacturing

 

 

Pond's Exports Limited

Subsidiary

Chennai

India

Health and Personal Care Wholesale

 

 

Unilever Israel Marketing Ltd

Subsidiary

Lod

Israel

Health and Personal Care Wholesale

 

 

Levers Associated Trust Limited

Subsidiary

Mumbai, Maharashtra

India

Investment Services

 

 

Unilever Slovensko, spol. s r.o.

Subsidiary

Bratislava

Slovakia

Miscellaneous Chemical Manufacturing

 

 

Unilever Peru S.A

Subsidiary

Lima

Peru

Miscellaneous Chemical Manufacturing

 

 

Jamnagar Properties Private Limited

Subsidiary

Jamnagar, Gujarat

India

Commercial Real Estate Leasing

 

 

Unilever Maghreb Export SA

Subsidiary

Tunis

Tunisia

Health and Personal Care Wholesale

 

 

Pfanni Werke Grundstucksverwaltung GmbH & Co. OHG

Subsidiary

Stavenhagen

Germany

Real Estate Agents and Brokers

 

 

Unilever Mocambique Limitada

Subsidiary

Matola

Mozambique

Health and Personal Care Wholesale

 

 

Maizena Grundstucksverwaltung GmbH & Co. OHG

Subsidiary

Stavenhagen

Germany

Real Estate Agents and Brokers

 

 

UNUS Holding B.V.

Subsidiary

Rotterdam, Zuid-Holland

Netherlands

Investment Services

 

 

Unilever Algerie SPA

Subsidiary

Oran

Algeria

Miscellaneous Chemical Manufacturing

 

 

Unilever Deutschland Immobilien Leasing GmbH & Co. OHG

Subsidiary

Stavenhagen

Germany

Food Manufacturing

 

 

Unilever Australia Services Limited

Subsidiary

 

 

 

 

 

 

 

Competitors Report

 

CompanyName

Location

Employees

Ownership

The Procter & Gamble Company

Cincinnati, Ohio, United States

121,000

Public

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Ehsan Ali Malik

 

Chairman of the Board, Chief Executive Officer

Chairman

 

Biography:

Mr. Ehsan Ali Malik has been Chairman and Chief Executive Officer at Unilever Pakistan Limited since September 1, 2006. He was Chairman and CEO at Unilever Sri Lanka Ltd. from 2001 to 2006. His earlier international appointments include: Finance Director Unilever Mashreq, and Special Investigations Manager at Unilever Head Office, London.

 

Imran Husain

 

Board Member

Director/Board Member

 

 

Biography:

Mr. Husain is the director of the board and the chief financial officer of Unilever Pakistan Ltd. since 2008. He also holdsdirectorships in Lever Chemicals (Private) Limited, Lever Associated Pakistan Trust (Private) Limited and Unilever Birds Eye Foods Pakistan (Private) Limited. Previously, he has served as corporate finance head, treasurer and commercial manager for the Ice Cream business.

 

Zaffar A. Khan

 

Independent Non-Executive Director

Director/Board Member

 

 

Biography:

Mr. Zaffar A. Khan serves as Independent Non-Executive Director of Unilever Pakistan Limited. Currently he is Chairman of Karachi Stock Exchange while other directorships include State Bank of Pakistan, Pakistan Steel, National Commodity Exchange, Pakistan Institute of Corporate Governance and The Aga Khan Education Board. Previous appointments include President and CEO of Engro Chemicals and Chairman, Pakistan Telecommunication Ltd. (PTCL). Recipient of the Sitara-e-Imtiaz.

 

Khalid Rafi

 

Non-Executive Director

Director/Board Member

 

 

 

 

 


Executives

 

Name

Title

Function

 

Ehsan Ali Malik

 

Chairman of the Board, Chief Executive Officer

Chief Executive Officer

 

Biography:

Mr. Ehsan Ali Malik has been Chairman and Chief Executive Officer at Unilever Pakistan Limited since September 1, 2006. He was Chairman and CEO at Unilever Sri Lanka Ltd. from 2001 to 2006. His earlier international appointments include: Finance Director Unilever Mashreq, and Special Investigations Manager at Unilever Head Office, London.

 

M. Qaysar Alam

 

Executive Director

Division Head Executive

 

 

Biography:

Mr. M. Qaysar Alam serves as Executive Director of Unilever Pakistan Limited. From 2003 to 2004 worked at the HPC Asia business group at Singapore in Supply Chain and Innovation, providing support to 17 countries of the Asia region. He has 23 years of experience in various areas of the supply chain function and is currently also Member of the Board of Directors of Rafhan Best Foods Ltd.

 

Faheem Ahmed Khan

 

Executive Director, Board Member

Division Head Executive

 

 

Biography:

Mr. Khan is the executive director of Unilever Pakistan Ltd. since 2012. Previously, he started his career at Unilever Pakistan in 1999 and he has held several positions since then including supply planner for various categories and corporate planner for Unilever Pakistan.

 

Amir R. Paracha

 

Executive Director

Division Head Executive

 

 

Biography:

Mr. Amir is the executive director of Unilever Pakistan Ltd. since 2010. He is also vice president of Marketing Home and Personal Care, joined the Board on January 21, 2010. Previously he served in Shell Pakistan and joined Unilever Pakistan in 2000 as an assistant brand manager. He was assigned the role of marketing director of mass skin and deodorants at Unilever North Africa Middle East in 2006 and returned to Pakistan 3 years later as marketing director of Home and Personal Care.

 

Fariyha Subhani

 

Executive Director

Division Head Executive

 

 

Biography:

Ms. Subhani is the executive director of Unilever Pakistan Ltd. since 2011. She is also the chief executive officer of Unilever Pakistan Foods Limited. Previously, she was deputed as marketing director of Foods Including Beverages and Ice Cream. She spent 4 years in Bangkok working for Unilever Asia.

 

Education:

Lahore University of Management Sciences, MBA 

 

Shazia Syed

 

Executive Director

Division Head Executive

 

 

Biography:

Ms. Shazia is the executive director of Unilever Pakistan Ltd. since 2008. She joined the company on April 2008. Prior to this, she worked as a business unit leader in the Personal Care Unit. In 2004, she returned to Pakistan as vice president of Home and Personal Care, before she took up her current position as vice president of Customer Development in 2009.

 

Amar Naseer

 

Company Secretary

Company Secretary

 

 

Biography:

Mr. Amar Naseer is Company Secretary of Unilever Pakistan Limited. He also heads the Tax and Brands Protection functions at the Company. He joined Unilever in 1999. He served as Director of the company till April 19, 2008.

 

Social: 

Farhan Alam

 

Finance Manager

Finance Executive

 

 

Ali Tariq

 

Chief Financial Officer, Director

Finance Executive

 

 

 

 

Significant Developments

 

Unilever Pakistan Ltd Announces Voluntary Delisting Of Shares From Karachi, Lahore And Islamabad Stock Exchanges Aug 05, 2013

 

Unilever Pakistan Ltd Announced that in respect of the voluntary delisting of the shares of the Company from Karachi Stock Exchange Limited, Lahore Stock Exchange Limited and Islamabad Stock Exchange Limited, which will appear in the issue of the following newspapers on August 6, 2013 in approximate size of 2 columns x 18 cm.

 

Unilever Overseas Holdings Limited Announces Purchase Of Shares Of Unilever Pakistan Ltd Jun 14, 2013

 

Unilever Pakistan Ltd announced that Unilever Overseas Holdings Limited has offered to purchase all the outstanding 3,321,452 ordinary shares of PKR50 each of the Company held by the other shareholders of the Company at a purchase price of 15,0000 per share. This offer is open for an initial period of 60 days, that is up to July 01 , 2013 , and thereafter for a further period of one year after the close of the initial offer period , even though in the meantime the shares of the Company will be delisted

 

Unilever Pakistan Ltd Recommends First Interim Dividend Apr 30, 2013

 

Unilever Pakistan Ltd announced that for first quarter, January to march 2013, the directors have recommended first interim dividend of PKR51.24 or 102.48% per ordinary share of PKR50 (first quarter, January to March 2012 - PKR65 or 130% per ordinary share). This will be payable to members on the number of ordinary shares held by them at the close of business on May 23, 2013.

 

Unilever Pakistan Ltd Announces Proposed FY 2012 Final Dividend Mar 15, 2013

 

Unilever Pakistan Limited announced its proposed final cash dividend of PKR 283 per share on the ordinary shares for fiscal year 2012, subject to shareholders' approval at the annual general meeting on April 16, 2013.

 

Unilever Pakistan Ltd Announces FY 2012 Final Dividend Feb 26, 2013

 

Unilever Pakistan Limited announced that it will pay PKR 283 per share as final cash dividend for the fiscal year 2012 to shareholders of record on April 16, 2013. It paid PKR 202 per share as final cash dividend for the fiscal year 2011.

 

Annual Income Statement

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Restated Normal 
31-Dec-2012

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Filed Currency

PKR

PKR

PKR

PKR

PKR

Exchange Rate (Period Average)

93.347634

86.346516

85.183279

81.692096

70.718347

Auditor

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Gross Sale

791.4

775.4

676.3

601.1

459.4

    Sales Returns and Allowances

-36.8

-36.0

-30.4

-29.8

-21.6

    Excise Tax Receipts

-114.6

-138.6

-121.4

-103.8

-

Sale

640.0

600.8

524.4

467.5

437.7

Total Sale

640.0

600.8

524.4

467.5

437.7

 

 

 

 

 

 

    Cost of Sale

407.8

391.4

353.3

304.2

285.9

Cost of Sale, Total

407.8

391.4

353.3

304.2

285.9

Gross Profit

232.1

209.4

171.1

163.2

151.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

63.4

59.6

47.4

39.9

96.9

    Labor & Related Expense

24.3

20.8

17.4

17.3

-

    Advertising Expense

57.9

56.5

47.4

46.8

-

Total Selling/General/Administrative Expenses

145.6

136.9

112.3

103.9

96.9

    Depreciation

0.5

0.9

0.9

1.0

-

    Amortization of Intangibles

1.2

0.3

0.0

0.1

-

Depreciation/Amortization

1.8

1.2

0.9

1.1

-

        Interest Income - Operating

-

-

-0.1

-0.2

-0.2

        Investment Income - Operating

-0.1

-0.2

-0.1

0.0

0.0

    Interest/Investment Income - Operating

-0.1

-0.2

-0.2

-0.2

-0.2

Interest Expense (Income) - Net Operating Total

-0.1

-0.2

-0.2

-0.2

-0.2

    Restructuring Charge

0.0

3.5

1.1

0.0

6.9

    Loss (Gain) on Sale of Assets - Operating

-1.1

0.6

-0.3

0.1

0.0

Unusual Expense (Income)

-1.1

4.2

0.8

0.1

6.9

    Other Operating Expense

-

-

-

-

3.5

    Other, Net

-5.0

-4.1

-1.1

-2.3

-3.4

Other Operating Expenses, Total

-5.0

-4.1

-1.1

-2.3

0.1

Total Operating Expense

549.0

529.4

465.9

406.7

389.6

 

 

 

 

 

 

Operating Income

91.0

71.4

58.5

60.7

48.1

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.7

-0.6

-2.0

-3.3

-2.9

    Interest Expense, Net Non-Operating

-0.7

-0.6

-2.0

-3.3

-2.9

        Investment Income - Non-Operating

-3.3

-1.5

-0.3

-1.9

-3.7

    Interest/Investment Income - Non-Operating

-3.3

-1.5

-0.3

-1.9

-3.7

Interest Income (Expense) - Net Non-Operating Total

-4.0

-2.0

-2.2

-5.2

-6.6

    Other Non-Operating Income (Expense)

-0.6

-0.6

-

-

-

Other, Net

-0.6

-0.6

-

-

-

Income Before Tax

86.4

68.8

56.3

55.5

41.5

 

 

 

 

 

 

Total Income Tax

27.4

21.3

17.8

17.9

13.4

Income After Tax

58.9

47.6

38.6

37.5

28.2

 

 

 

 

 

 

Net Income Before Extraord Items

58.9

47.6

38.6

37.5

28.2

Net Income

58.9

47.6

38.6

37.5

28.2

 

 

 

 

 

 

    Preferred Dividends

0.0

0.0

0.0

0.0

0.0

Total Adjustments to Net Income

0.0

0.0

0.0

0.0

0.0

Income Available to Common Excl Extraord Items

58.9

47.5

38.5

37.5

28.2

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

58.9

47.5

38.5

37.5

28.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

13.3

13.3

13.3

13.3

13.3

Basic EPS Excl Extraord Items

4.43

3.58

2.90

2.82

2.12

Basic/Primary EPS Incl Extraord Items

4.43

3.58

2.90

2.82

2.12

Dilution Adjustment

0.0

0.0

0.0

0.0

-

Diluted Net Income

58.9

47.5

38.5

37.5

28.2

Diluted Weighted Average Shares

13.3

13.3

13.3

13.3

13.3

Diluted EPS Excl Extraord Items

4.43

3.58

2.90

2.82

2.12

Diluted EPS Incl Extraord Items

4.43

3.58

2.90

2.82

2.12

Dividends per Share - Common Stock Primary Issue

4.42

3.56

2.89

2.80

1.74

Gross Dividends - Common Stock

47.3

47.3

38.4

37.3

23.1

Interest Expense, Supplemental

0.7

0.6

1.7

3.0

2.4

Depreciation, Supplemental

6.9

6.8

6.5

6.1

6.4

Total Special Items

-1.1

4.2

0.8

0.1

6.9

Normalized Income Before Tax

85.2

73.0

57.1

55.6

48.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-0.4

1.3

0.2

0.0

2.2

Inc Tax Ex Impact of Sp Items

27.1

22.6

18.0

18.0

15.6

Normalized Income After Tax

58.2

50.4

39.1

37.6

32.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

58.2

50.4

39.1

37.6

32.9

 

 

 

 

 

 

Basic Normalized EPS

4.37

3.79

2.94

2.83

2.47

Diluted Normalized EPS

4.37

3.79

2.94

2.83

2.47

Amort of Intangibles, Supplemental

2.7

0.6

0.0

0.1

0.1

Rental Expenses

3.8

-

4.4

4.2

3.9

Advertising Expense, Supplemental

57.9

56.5

47.4

46.8

40.9

Normalized EBIT

89.8

75.4

59.1

60.6

54.8

Normalized EBITDA

99.4

82.9

65.6

66.7

61.3

    Current Tax - Domestic

23.8

23.1

18.1

14.4

12.2

    Current Tax - Local

0.5

0.4

-

-

-

    Current Tax - Other

-

-

0.4

0.3

0.3

Current Tax - Total

24.3

23.5

18.5

14.7

12.5

    Deferred Tax - Domestic

3.2

-2.3

-0.7

3.3

0.9

Deferred Tax - Total

3.2

-2.3

-0.7

3.3

0.9

Income Tax - Total

27.4

21.3

17.8

17.9

13.4

Interest Cost - Domestic

2.6

-

2.6

3.0

2.7

Service Cost - Domestic

0.2

-

0.3

0.3

0.9

Prior Service Cost - Domestic

0.0

-

-

-

-

Expected Return on Assets - Domestic

-2.4

-

-2.1

-2.4

-2.4

Actuarial Gains and Losses - Domestic

0.1

-

0.4

0.8

0.2

Curtailments & Settlements - Domestic

1.0

-

0.3

4.8

4.8

Domestic Pension Plan Expense

1.6

-

1.5

6.4

6.1

Interest Cost - Post-Retirement

0.3

-

0.3

0.3

0.2

Service Cost - Post-Retirement

0.0

-

0.0

0.0

0.0

Prior Service Cost - Post-Retirement

0.0

-

0.0

-0.1

0.0

Actuarial Gains and Losses - Post-Retir.

0.0

-

0.0

0.0

0.0

Curtailments & Settlements - Post-Retir.

0.0

-

0.0

0.0

0.0

Post-Retirement Plan Expense

0.3

-

0.3

0.3

0.2

Defined Contribution Expense - Domestic

1.4

-

1.2

1.2

1.1

Total Pension Expense

3.3

-

3.0

7.8

7.5

Discount Rate - Domestic

11.50%

-

14.25%

12.75%

16.00%

Expected Rate of Return - Domestic

6.25%

-

8.75%

7.38%

10.48%

Compensation Rate - Domestic

9.00%

-

12.00%

10.60%

13.79%

Pension Payment Rate - Domestic

5.75%

-

8.00%

6.66%

9.73%

Total Plan Interest Cost

2.9

-

2.9

3.3

2.9

Total Plan Service Cost

0.3

-

0.3

0.3

0.9

Total Plan Expected Return

-2.4

-

-2.1

-2.4

-2.4

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Restated Normal 
31-Dec-2012

Updated Normal
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Reclassified Normal 
31-Dec-2009

Filed Currency

PKR

PKR

PKR

PKR

PKR

Exchange Rate

97.199997

89.91

85.645

84.325

79.125

Auditor

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash

0.1

0.0

7.7

2.8

1.3

    Short Term Investments

7.6

12.4

14.5

1.7

1.6

Cash and Short Term Investments

7.7

12.4

22.3

4.5

2.9

        Accounts Receivable - Trade, Gross

10.8

9.7

6.6

6.5

3.5

        Provision for Doubtful Accounts

-0.3

-0.4

-0.5

-0.5

-0.6

    Trade Accounts Receivable - Net

10.5

9.3

6.1

6.0

2.9

    Other Receivables

10.7

7.8

10.1

8.7

9.4

Total Receivables, Net

21.2

17.1

16.2

14.7

12.3

    Inventories - Finished Goods

27.7

24.5

14.8

15.3

19.6

    Inventories - Work In Progress

3.3

3.2

1.5

0.9

1.3

    Inventories - Raw Materials

35.3

32.6

34.3

31.1

36.7

    Inventories - Other

2.2

1.5

-1.0

-0.9

-0.8

Total Inventory

68.6

61.7

49.5

46.4

56.8

Prepaid Expenses

5.3

6.1

0.2

1.8

3.7

    Other Current Assets

0.3

0.3

0.2

0.2

1.7

Other Current Assets, Total

0.3

0.3

0.2

0.2

1.7

Total Current Assets

103.1

97.6

88.4

67.6

77.3

 

 

 

 

 

 

        Buildings

9.0

9.5

10.7

10.9

10.6

        Land/Improvements

0.3

0.3

0.3

0.3

0.3

        Machinery/Equipment

93.4

79.2

80.5

75.8

70.5

        Construction in Progress

12.3

13.2

3.6

2.1

5.6

        Other Property/Plant/Equipment

0.0

0.8

0.0

0.0

0.0

    Property/Plant/Equipment - Gross

114.9

103.0

95.1

89.1

87.0

    Accumulated Depreciation

-40.6

-39.4

-38.9

-33.9

-32.1

Property/Plant/Equipment - Net

74.3

63.6

57.2

56.2

56.0

    Intangibles - Gross

14.1

15.2

9.9

4.5

0.3

    Accumulated Intangible Amortization

-4.4

-0.9

-0.3

-0.3

-0.2

Intangibles, Net

9.6

14.3

9.6

4.2

0.1

    LT Investments - Other

0.2

0.3

0.3

4.7

6.8

Long Term Investments

0.2

0.3

0.3

4.7

6.8

Note Receivable - Long Term

1.4

1.3

1.0

1.2

1.5

    Pension Benefits - Overfunded

1.1

1.3

1.7

2.2

2.6

Other Long Term Assets, Total

1.1

1.3

1.7

2.2

2.6

Total Assets

189.7

178.4

158.3

136.0

144.3

 

 

 

 

 

 

Accounts Payable

8.7

7.1

15.3

10.3

8.9

Accrued Expenses

56.7

57.6

55.5

47.0

36.3

Notes Payable/Short Term Debt

0.0

3.3

3.5

12.3

40.9

Current Portion - Long Term Debt/Capital Leases

0.0

0.1

0.3

0.3

0.4

    Dividends Payable

1.9

1.6

1.5

1.4

1.3

    Customer Advances

1.5

1.7

1.5

1.7

1.1

    Security Deposits

0.2

0.3

0.2

0.2

0.2

    Income Taxes Payable

0.0

0.0

0.0

0.0

0.0

    Other Payables

48.8

44.1

22.3

8.5

9.5

    Other Current Liabilities

6.3

5.9

4.6

2.6

8.4

Other Current liabilities, Total

58.7

53.7

30.2

14.4

20.6

Total Current Liabilities

124.1

121.8

104.8

84.3

107.1

 

 

 

 

 

 

    Capital Lease Obligations

0.0

0.0

0.2

0.7

1.0

Total Long Term Debt

0.0

0.0

0.2

0.7

1.0

Total Debt

0.0

3.4

4.0

13.3

42.2

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

7.0

4.2

6.7

7.5

4.7

Deferred Income Tax

7.0

4.2

6.7

7.5

4.7

    Pension Benefits - Underfunded

3.9

5.1

4.2

3.9

3.0

Other Liabilities, Total

3.9

5.1

4.2

3.9

3.0

Total Liabilities

135.0

131.2

115.9

96.4

115.8

 

 

 

 

 

 

    Convertible Preferred Stock - Non Redeemable

0.0

0.1

0.1

0.1

-

Preferred Stock - Non Redeemable, Net

0.0

0.1

0.1

0.1

-

    Common Stock

6.8

7.4

7.8

7.9

8.5

Common Stock

6.8

7.4

7.8

7.9

8.5

Additional Paid-In Capital

4.0

4.4

4.6

4.7

5.0

Retained Earnings (Accumulated Deficit)

43.8

35.3

29.8

26.9

15.0

Unrealized Gain (Loss)

0.0

0.1

0.1

0.2

0.2

Total Equity

54.7

47.2

42.3

39.7

28.5

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

189.7

178.4

158.3

136.0

144.3

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

13.3

13.3

13.3

13.3

13.3

Total Common Shares Outstanding

13.3

13.3

13.3

13.3

13.3

Treasury Shares - Common Stock Primary Issue

0.0

0.0

-

-

-

    Shares Outstanding - Preferred Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

Total Preferred Stock Outstanding

0.0

0.0

0.0

0.0

0.0

Treasury Shares - Preferred Primary Issue

0.0

0.0

-

-

-

Number of Common Shareholders

3,680

-

3,818

-

4,010

Accumulated Intangible Amort, Suppl.

4.4

0.9

0.3

0.3

0.2

Deferred Sale - Current

1.5

1.7

1.5

1.7

1.1

Total Long Term Debt, Supplemental

-

-

0.3

0.3

-

Long Term Debt Maturing within 1 Year

-

-

0.3

0.3

-

Long Term Debt Matur. in Year 6 & Beyond

-

-

0.0

0.0

-

Total Capital Leases, Supplemental

-

-

0.6

1.0

1.4

Capital Lease Payments Due in Year 1

-

-

0.3

0.3

0.4

Capital Lease Payments Due in Year 2

-

-

0.1

0.2

0.2

Capital Lease Payments Due in Year 3

-

-

0.1

0.2

0.2

Capital Lease Payments Due in Year 4

-

-

0.1

0.2

0.2

Capital Lease Payments Due in Year 5

-

-

0.1

0.2

0.2

Capital Lease Payments Due in 2-3 Years

-

-

0.1

0.3

0.5

Capital Lease Payments Due in 4-5 Years

-

-

0.1

0.3

0.5

Total Operating Leases, Supplemental

7.2

-

3.6

2.3

2.5

Operating Lease Payments Due in Year 1

2.2

-

0.9

0.5

1.2

Operating Lease Payments Due in Year 2

1.2

-

0.7

0.4

0.3

Operating Lease Payments Due in Year 3

1.2

-

0.7

0.4

0.3

Operating Lease Payments Due in Year 4

1.2

-

0.7

0.4

0.3

Operating Lease Payments Due in Year 5

1.2

-

0.7

0.4

0.3

Operating Lease Pymts. Due in 2-3 Years

2.5

-

1.3

0.9

0.7

Operating Lease Pymts. Due in 4-5 Years

2.5

-

1.3

0.9

0.7

Oper. Lse. Pymts. Due in Year 6 & Beyond

0.0

-

0.0

0.0

0.0

Pension Obligation - Domestic

20.1

-

22.1

21.5

23.8

Post-Retirement Obligation

2.4

-

2.4

2.3

2.1

Plan Assets - Domestic

20.1

-

19.8

18.0

22.8

Funded Status - Domestic

0.0

-

-2.4

-3.4

-1.0

Funded Status - Post-Retirement

-2.4

-

-2.4

-2.3

-2.1

Total Funded Status

-2.4

-

-4.8

-5.7

-3.1

Discount Rate - Domestic

11.50%

-

14.25%

12.75%

16.00%

Expected Rate of Return - Domestic

6.25%

-

8.75%

7.38%

-

Compensation Rate - Domestic

9.00%

-

12.00%

10.60%

13.79%

Pension Payment Rate - Domestic

5.75%

-

8.00%

6.66%

9.73%

Prepaid Benefits - Domestic

1.7

-

-

-

1.3

Accrued Liabilities - Domestic

-1.7

-

-2.4

-3.4

-2.3

Accrued Liabilities - Post-Retirement

-2.4

-

-2.4

-2.3

-2.1

Net Assets Recognized on Balance Sheet

-2.4

-

-4.8

-5.7

-3.1

Equity % - Domestic

11.80%

-

11.70%

9.70%

1.30%

Debt Securities % - Domestic

85.40%

-

87.80%

59.00%

7.30%

Other Investments % - Domestic

2.80%

-

0.50%

31.30%

91.40%

Total Plan Obligations

22.5

-

24.5

23.8

25.9

Total Plan Assets

20.1

-

19.8

18.0

22.8

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Updated Normal
31-Dec-2008

Filed Currency

PKR

PKR

PKR

PKR

PKR

Exchange Rate (Period Average)

93.347634

86.346516

85.183279

81.692096

70.718347

Auditor

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

86.4

68.8

56.3

55.5

-

    Depreciation

6.9

6.8

6.5

6.1

-

Depreciation/Depletion

6.9

6.8

6.5

6.1

-

    Amortization of Intangibles

2.7

0.6

0.0

0.1

-

Amortization

2.7

0.6

0.0

0.1

-

    Unusual Items

-1.1

0.6

-0.3

0.1

-

    Other Non-Cash Items

2.1

2.7

3.3

9.1

-

Non-Cash Items

1.0

3.3

3.0

9.3

-

    Accounts Receivable

-1.8

-4.9

0.0

-1.8

-

    Inventories

-11.9

-15.2

-3.8

7.1

-

    Other Assets

0.3

-3.8

1.0

-2.0

-

    Accounts Payable

15.1

21.4

25.4

16.3

-

    Other Liabilities

0.9

1.6

2.1

-4.6

-

    Other Operating Cash Flow

-31.7

-24.8

-18.0

-22.0

1.3

Changes in Working Capital

-29.2

-25.7

6.7

-7.1

1.3

Cash from Operating Activities

67.8

53.9

72.5

63.8

1.3

 

 

 

 

 

 

    Purchase of Fixed Assets

-23.5

-17.4

-8.5

-10.7

-19.4

    Purchase/Acquisition of Intangibles

0.0

-6.1

-2.3

-0.8

-

Capital Expenditures

-23.5

-23.4

-10.8

-11.5

-19.4

    Sale of Fixed Assets

1.4

0.4

0.4

0.8

1.7

    Investment, Net

1.7

0.0

-0.4

-1.2

0.0

    Purchase of Investments

-1.7

-

-

-

-

    Other Investing Cash Flow

0.4

0.4

0.1

0.2

0.2

Other Investing Cash Flow Items, Total

1.8

0.9

0.1

-0.2

1.9

Cash from Investing Activities

-21.6

-22.5

-10.7

-11.7

-17.5

 

 

 

 

 

 

    Cash Dividends Paid - Common

-46.8

-40.2

-35.1

-24.1

-24.2

Total Cash Dividends Paid

-46.8

-40.2

-35.1

-24.1

-24.2

        Long Term Debt Reduction

-0.2

-0.4

-0.6

-0.5

-0.5

    Long Term Debt, Net

-0.2

-0.4

-0.6

-0.5

-0.5

Issuance (Retirement) of Debt, Net

-0.2

-0.4

-0.6

-0.5

-0.5

Cash from Financing Activities

-47.0

-40.6

-35.7

-24.6

-24.6

 

 

 

 

 

 

Net Change in Cash

-0.8

-9.2

26.1

27.5

-40.8

 

 

 

 

 

 

Net Cash - Beginning Balance

7.2

17.0

-8.9

-36.8

-1.7

Net Cash - Ending Balance

6.3

7.8

17.2

-9.3

-42.5

Cash Interest Paid

-

-

-

-

5.7

Cash Taxes Paid

28.1

22.7

19.8

15.7

15.1

 

 

Annual Income Statement

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Restated Normal 
31-Dec-2012

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Filed Currency

PKR

PKR

PKR

PKR

PKR

Exchange Rate (Period Average)

93.347634

86.346516

85.183279

81.692096

70.718347

Auditor

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Gross turnover

776.0

763.5

-

-

-

    Gross turnover

15.5

11.9

-

-

-

    Sales

-

-

676.3

601.1

459.4

    Sales Tax

-107.1

-118.1

-

-

-

    Excise duty

-5.4

-19.4

-

-

-

    Sales Tax

-2.1

-1.1

-

-

-

    Excise duty

-0.1

-0.1

-

-

-

    Sales Tax & Excise Duty

-

-

-121.4

-103.8

-

    Allowances and returns

-36.1

-35.4

-

-

-

    Allowances and returns

-0.7

-0.6

-

-

-

    Rebates and Allowances

-

-

-30.4

-29.8

-21.6

Total Sale

640.0

600.8

524.4

467.5

437.7

 

 

 

 

 

 

    Labor & Related Expense - COGS

20.1

17.9

-

-

-

    Cost of Goods Sold - Balancing value

35.3

24.6

-

-

-

    Raw & Packing Materials

344.7

342.6

-

-

-

    Depreciation in COR/COGS

6.4

5.9

-

-

-

    Amortization in COR/COGS

1.4

0.3

-

-

-

    Cost of Goods Sold

-

-

353.3

304.2

285.9

    Staff Expenses

6.8

6.0

-

-

-

    Staff Expenses

10.9

9.6

13.3

13.2

-

    Advertisement

57.9

56.5

47.4

46.8

-

    Depreciation in SGA

0.3

0.4

-

-

-

    Depreciation in SGA

0.3

0.5

0.9

1.0

-

    Amortization in SGA

0.7

0.2

-

-

-

    Amortisation

0.6

0.1

0.0

0.1

-

    Distribution Costs - Balancing value

49.7

46.8

-

-

-

    Bad Debt Written-off/Provision

0.0

0.0

-

-

-

    Other Administrative Expenses

13.6

12.3

-

-

-

    Distribution Costs

-

-

37.8

31.6

82.7

    Administrative Expenses

-

-

9.3

7.9

14.2

    Donations

0.1

0.4

0.4

0.4

-

    Workers' Profits Participation Fund - no

4.6

3.7

3.0

3.0

-

    Workers' Welfare Fund

1.9

1.5

1.1

1.1

-

    G/L on Sale of Tangible & Intangible FA

0.0

0.6

-

-

-

    Loss on disposal of property, plant and

-

-

0.0

0.1

-

    Other Operating Expenses

-

-

-

-

3.5

    Dividend Income

0.0

0.0

0.0

0.0

0.0

    Return From Other Finan. Assets

-

-

-0.1

-0.2

-0.2

    Return on Investment

-0.1

-0.2

-0.1

0.0

0.0

    Loss on disposal of property, plant and

-1.1

0.0

-0.3

0.0

0.0

    Other Operating Income - Balancing value

-5.0

-4.1

-

-

-

    Other Operating Income

-

-

-1.1

-2.3

-3.4

    Restructuring Costs

0.0

3.5

1.1

0.0

6.9

Total Operating Expense

549.0

529.4

465.9

406.7

389.6

 

 

 

 

 

 

    Finace Charge on Finance Leases

0.0

0.0

-

-

-

    Finance Costs

-0.7

-0.5

-2.0

-3.3

-2.9

    Exchange Loss

-3.3

-1.5

-0.3

-1.9

-3.7

    Other Non Rec. I/E - Non Business Activ.

-0.6

-0.6

-

-

-

Net Income Before Taxes

86.4

68.8

56.3

55.5

41.5

 

 

 

 

 

 

Provision for Income Taxes

27.4

21.3

17.8

17.9

13.4

Net Income After Taxes

58.9

47.6

38.6

37.5

28.2

 

 

 

 

 

 

Net Income Before Extra. Items

58.9

47.6

38.6

37.5

28.2

Net Income

58.9

47.6

38.6

37.5

28.2

 

 

 

 

 

 

    Preferred Dividends

0.0

0.0

0.0

0.0

0.0

Income Available to Com Excl ExtraOrd

58.9

47.5

38.5

37.5

28.2

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

58.9

47.5

38.5

37.5

28.2

 

 

 

 

 

 

Basic Weighted Average Shares

13.3

13.3

13.3

13.3

13.3

Basic EPS Excluding ExtraOrdinary Items

4.43

3.58

2.90

2.82

2.12

Basic EPS Including ExtraOrdinary Items

4.43

3.58

2.90

2.82

2.12

Dilution Adjustment

0.0

0.0

0.0

0.0

-

Diluted Net Income

58.9

47.5

38.5

37.5

28.2

Diluted Weighted Average Shares

13.3

13.3

13.3

13.3

13.3

Diluted EPS Excluding ExtraOrd Items

4.43

3.58

2.90

2.82

2.12

Diluted EPS Including ExtraOrd Items

4.43

3.58

2.90

2.82

2.12

DPS-Fully Paid Ord. Shrs

4.42

3.56

2.89

2.80

1.74

Gross Dividends - Common Stock

47.3

47.3

38.4

37.3

23.1

Normalized Income Before Taxes

85.2

73.0

57.1

55.6

48.5

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

27.1

22.6

18.0

18.0

15.6

Normalized Income After Taxes

58.2

50.4

39.1

37.6

32.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

58.2

50.4

39.1

37.6

32.9

 

 

 

 

 

 

Basic Normalized EPS

4.37

3.79

2.94

2.83

2.47

Diluted Normalized EPS

4.37

3.79

2.94

2.83

2.47

Advertising Expense

57.9

56.5

47.4

46.8

40.9

Interest Expense, Supplemental

0.7

0.6

-

-

-

Interest Expense

-

-

1.7

3.0

2.4

Rental Expense

3.8

-

4.4

4.2

3.9

Depreciation

6.9

6.8

6.5

6.1

6.4

Amortization of Intangibles

2.7

0.6

0.0

0.1

0.1

    Current Tax - Local

0.5

0.4

-

-

-

    Current Tax - Domestic

23.8

23.1

-

-

-

    Current Tax-Pakistan

-

-

18.1

14.4

12.2

    Current Tax-Azad Kashmir

-

-

0.4

0.3

0.3

Current Tax - Total

24.3

23.5

18.5

14.7

12.5

    Deferred Tax - Domestic

3.2

-2.3

-

-

-

    Deferred Tax

-

-

-0.7

3.3

0.9

Deferred Tax - Total

3.2

-2.3

-0.7

3.3

0.9

Income Tax - Total

27.4

21.3

17.8

17.9

13.4

Current Service Cost - Pension

0.1

-

0.1

0.1

0.5

Interest Cost - Pension

2.2

-

2.2

2.5

2.1

Expected Return on Assets - Pension

-2.3

-

-2.1

-2.3

-1.9

Curtailments & Settlements - Pension

0.0

-

0.0

-0.4

0.0

Past Service Cost - Pension

0.0

-

-

-

-

Recog of Actuarial Gain/Loss - Pension

0.1

-

0.3

0.2

0.2

Current Service Cost - Gratuity

0.1

-

0.2

0.1

0.4

Interest Cost - Gratuity

0.4

-

0.4

0.5

0.6

Expected Return on Assets - Gratuity

-0.1

-

0.0

-0.1

-0.5

Curtailments & Settlements - Gratuity

1.0

-

0.3

5.1

4.8

Recog of Actuarial Gain/Loss - Gratuity

0.0

-

0.0

0.6

0.0

Domestic Pension Plan Expense

1.6

-

1.5

6.4

6.1

Current Service Cost - Medical Plan

0.0

-

0.0

0.0

0.0

Interest Cost - Medical Plan

0.3

-

0.3

0.3

0.2

Curtailments & Settlements - Post-Ret.Mp

0.0

-

0.0

0.0

0.0

Past Service Cost - Post-Retirement Mp

0.0

-

0.0

-0.1

0.0

RecoActuarial Gain/Loss - Medical Plan

0.0

-

0.0

0.0

0.0

Post-Retirement Plan Expense

0.3

-

0.3

0.3

0.2

Defined Contribution Plans

1.4

-

1.2

1.2

1.1

Total Pension Expense

3.3

-

3.0

7.8

7.5

Discount Rate - Pension

11.50%

-

14.25%

12.75%

16.00%

Salary Increase Rate - Pension

9.00%

-

12.00%

10.60%

13.79%

Pension Payment Rate

5.75%

-

8.00%

6.66%

9.73%

Expected Rate of Return - Pension

6.25%

-

8.75%

7.38%

10.48%

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal
31-Dec-2012

Restated Normal 
31-Dec-2012

Updated Normal
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Reclassified Normal 
31-Dec-2009

Filed Currency

PKR

PKR

PKR

PKR

PKR

Exchange Rate

97.199997

89.91

85.645

84.325

79.125

Auditor

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Stores & Spares

-

-

4.7

3.6

3.1

    Stores

1.2

1.0

-

-

-

    Spares

3.6

3.3

-

-

-

    Provision for obsolescence

-1.4

-1.8

-

-

-

    Provision for slow moving and obsolete s

-0.4

-0.5

-0.5

-0.5

-

    Raw Materials

35.3

32.6

29.6

27.5

33.6

    Work in Process

3.3

3.2

1.5

0.9

1.3

    Finished Goods

27.7

24.5

14.8

15.3

19.6

    By-Product

-

-

0.0

0.1

0.2

    Less:Provision-Slow Moving/Obselete Stk.

-0.7

-0.6

-0.5

-0.6

-1.0

    Trade Debts Gross

10.8

9.7

6.6

6.5

3.5

    Provision for Doubtful Debts

-0.3

-0.4

-0.5

-0.5

-0.6

    Loans and advances

1.9

1.8

1.5

1.6

1.6

    Prepayments

0.2

0.3

-

-

-

    Prepayments

1.3

1.4

-

-

-

    Accrued Interest/Mark Up

-

-

0.0

0.0

0.0

    Trade Deposits

0.3

0.3

0.2

0.2

1.7

    Prepayments

3.8

4.4

0.2

1.8

3.6

    Others

-

-

2.4

1.9

1.2

    Other Receivables

1.1

1.6

0.8

1.0

2.8

    Investment - held to maturity

0.0

1.7

1.7

1.2

0.0

    Tax Refunds Due from Government

7.7

4.4

5.4

4.2

3.8

    Cash

0.0

0.0

0.0

0.0

1.3

    current accounts

0.1

0.0

7.7

2.8

-

    savings accounts

6.0

10.7

3.5

0.0

-

    Deposit Account

1.6

0.0

9.3

0.5

1.6

Total Current Assets

103.1

97.6

88.4

67.6

77.3

 

 

 

 

 

 

    Freehold Land

0.3

0.3

0.3

0.3

0.3

    Leasehold Land

0.0

0.0

0.0

0.0

0.0

    Buildings on Freehold Land

8.0

8.6

9.1

8.9

8.4

    Buildings on Leasehold Land

-

-

0.9

1.0

1.0

    Plant and Machinery

82.6

69.4

70.0

65.7

60.8

    Electrical and Mechanical Equipment

8.8

8.0

8.9

8.2

6.8

    Furniture and Fittings

0.5

0.5

0.5

0.5

0.5

    Motor Vehicles

1.5

1.2

1.1

1.4

2.5

    Buildings on Leasehold Land - Gross

0.9

0.9

-

-

-

    Asset/Finance Lease

-

-

1.7

2.0

2.3

    Capital Work in Progress

12.3

13.2

3.6

2.1

5.6

    Acc Depr Plant & Machinery

-32.8

-30.3

-

-

-

    Acc Depr Land/Land Improvements

0.0

0.0

-

-

-

    Acc Depr PPE under Capital Lease

0.0

0.0

-

-

-

    Acc Depr Buildings

-2.1

-2.0

-

-

-

    Acc Depr Plant & Machinery

-4.1

-4.4

-

-

-

    Furniture & Fittings - Dep

-0.3

-0.3

-

-

-

    Motor Vehicles

-0.6

-1.0

-

-

-

    Acc Depr Buildings on Leasehold Land

-0.6

-0.7

-

-

-

    Motor Vehicles - Capital Lease - Dep

0.0

-0.7

-

-

-

    Accumulated Depreciation

-

-

-38.9

-33.9

-32.1

    Intangible asset under development - not

-

-

9.6

4.2

-

    Intangibles-Computer Software

14.1

15.2

0.3

0.3

0.3

    Amortisation

-4.4

-0.9

-0.3

-0.3

-0.2

    Long Term Loans

1.4

1.3

1.0

1.2

1.5

    Long Term Deposit/Prepayments

0.2

0.3

0.3

4.7

6.8

    Long Term Investments

0.0

0.0

0.0

0.0

0.0

    Retirement Benefit Obligations

1.1

1.3

1.7

2.2

2.6

    Motor Vehicles - Capital Lease - Gross

0.0

0.8

-

-

-

Total Assets

189.7

178.4

158.3

136.0

144.3

 

 

 

 

 

 

    Liability Against Assets- Finance Lease

0.0

0.1

0.3

0.3

0.4

    Short Term Borrowings

0.0

3.3

3.5

12.3

40.9

    Accrued interest / mark up

0.1

0.1

0.2

0.3

0.8

    Creditors

8.7

7.1

-

-

-

    Creditors

-

-

15.3

10.3

8.9

    Bills Payable

40.5

36.2

16.0

3.1

5.2

    Accrued Liabilities

54.5

53.6

49.7

42.7

33.2

    Royalty and Technical Services Fee

5.2

5.2

4.2

3.5

3.1

    Advance Payment from Customers

1.5

1.7

1.5

1.7

1.1

    Sales Tax Payable

1.6

2.9

4.2

2.6

1.2

    Excise Duty Payable

0.5

1.0

1.4

1.4

1.1

    Worker's Welfare Fund

1.8

1.5

1.2

1.1

1.2

    Workers' Profits Participation Fund - no

-

-

0.0

0.0

-

    Security Deposits from Dealers

0.2

0.3

0.2

0.2

0.2

    Unclaimed Dividend

1.9

1.6

1.5

1.4

1.3

    Liability for share-based compensation p

1.3

1.0

0.6

0.6

-

    Others

0.1

0.2

0.3

0.2

-

    Other Payables

-

-

-

-

0.9

    Taxation - provision less payments

0.0

0.0

0.0

0.0

0.0

    Provisions

6.3

5.9

4.6

2.6

7.5

Total Current Liabilities

124.1

121.8

104.8

84.3

107.1

 

 

 

 

 

 

    Liability Against Assets- Finance Lease

0.0

0.0

0.2

0.7

1.0

Total Long Term Debt

0.0

0.0

0.2

0.7

1.0

 

 

 

 

 

 

    Deferred Tax Credit - Liability

-5.7

-5.9

-

-

-

    Deferred Tax (Debit) - Liability

12.7

10.1

-

-

-

    Deferred Taxation

-

-

6.7

7.5

4.7

    Retirement Benefit Obligations

3.9

5.1

4.2

3.9

3.0

Total Liabilities

135.0

131.2

115.9

96.4

115.8

 

 

 

 

 

 

    Share Capital

6.8

7.4

7.8

7.9

8.5

    Preferred Capital

0.0

0.1

0.1

0.1

-

    Capital Reserves

4.0

4.4

4.6

4.7

5.0

    Surplus on Revaluation of Fixed Assets

0.0

0.1

0.1

0.2

0.2

    Sale Reserves

43.8

35.3

29.8

26.9

15.0

Total Equity

54.7

47.2

42.3

39.7

28.5

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

189.7

178.4

158.3

136.0

144.3

 

 

 

 

 

 

    S/O-Fully Paid Ord. Shrs

13.3

13.3

13.3

13.3

13.3

Total Common Shares Outstanding

13.3

13.3

13.3

13.3

13.3

T/S-Fully Paid Ord. Shrs

0.0

0.0

-

-

-

    S/O-5% Cum. Pref. Shrs

0.0

0.0

0.0

0.0

0.0

Total Preferred Shares Outstanding

0.0

0.0

0.0

0.0

0.0

T/S-5% Cum. Pref. Shrs

0.0

0.0

-

-

-

Advance Payment from Customers

1.5

1.7

-

-

-

Deferred Sale - Current

-

-

1.5

1.7

1.1

Accumulated Intangible Amortisation

4.4

0.9

0.3

0.3

0.2

Number of Common Shareholders

3,680

-

3,818

-

4,010

Current maturities

-

-

0.3

0.3

-

Total Long Term Debt, Supplemental

-

-

0.3

0.3

-

Capital Leases Maturing within 1 Year

-

-

0.3

0.3

0.4

Capital Leases Maturing within 5 Years

-

-

0.2

0.7

1.0

Total Capital Leases, Supplemental

-

-

0.6

1.0

1.4

Operating Leases Maturing Within 1 Year

2.2

-

0.9

0.5

1.2

Operating Leases Maturing Within 1-5 Yrs

5.0

-

2.7

1.7

1.4

Total Operating Leases, Supplemental

7.2

-

3.6

2.3

2.5

PV of Benefit Obligation - Pension

17.6

-

19.0

18.5

18.6

FV of Plan Assets - Pension

19.3

-

19.0

17.6

19.9

Funded Status - Pension

1.7

-

0.0

-0.9

1.3

PV of Funded Obligations - Gratuity

2.5

-

3.1

2.9

5.3

FV of Plan Assets - Gratuity

0.8

-

0.7

0.4

2.9

Funded Status - Gratuity

-1.7

-

-2.4

-2.5

-2.3

PV of Funded Obligations - Medical Plan

2.4

-

2.4

2.3

2.1

Funded Status - Medical Plan

-2.4

-

-2.4

-2.3

-2.1

Total Funded Status

-2.4

-

-4.8

-5.7

-3.1

Discount Rate - Pension

11.50%

-

14.25%

12.75%

16.00%

Salary Increase Rate - Pension

9.00%

-

12.00%

10.60%

13.79%

Pension Payment Rate

5.75%

-

8.00%

6.66%

9.73%

Expected Rate of Return - Pension

6.25%

-

8.75%

7.38%

-

Asset - Pension

1.7

-

-

-

1.3

Liabilities- Pension

-

-

0.0

-0.9

-

Liabilities- Gratuity

-1.7

-

-2.4

-2.5

-2.3

Liability - Medical Plan

-2.4

-

-2.4

-2.3

-2.1

Net Assets Recognized on Balance Sheet

-2.4

-

-4.8

-5.7

-3.1

Equity

11.80%

-

11.70%

9.70%

1.30%

Debt

85.40%

-

87.80%

59.00%

7.30%

Cash & Bank Balance

2.80%

-

0.50%

31.30%

91.40%

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Reclassified Normal 
31-Dec-2010

Updated Normal
31-Dec-2008

Filed Currency

PKR

PKR

PKR

PKR

PKR

Exchange Rate (Period Average)

93.347634

86.346516

85.183279

81.692096

70.718347

Auditor

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

A F Ferguson & Co.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

86.4

68.8

56.3

55.5

-

    Depreciation

6.9

6.8

6.5

6.1

-

    Amortisation of software

2.7

0.6

0.0

0.1

-

    (Gain) / Loss on disposal of property, p

-1.1

0.6

-0.3

0.1

-

    Dividend income

0.0

0.0

0.0

0.0

-

    Mark-up on short term borrowings

0.7

0.5

1.6

2.8

-

    Finance charge on finance leases

0.0

0.0

0.1

0.2

-

    Provision for staff retirement benefits

1.9

2.8

1.8

6.4

-

    Return on savings accounts and deposit a

-0.4

-0.4

-0.1

-0.2

-

    Return on investment - held to maturity

-0.1

-0.2

-0.1

0.0

-

    Stores & Spares

-0.8

0.1

-1.1

-0.3

-

    Stock in trade

-11.1

-15.3

-2.7

7.4

-

    Trade debts

-2.0

-3.6

-0.2

-3.4

-

    Loans and advances

-0.2

-0.4

0.1

-0.1

-

    Trade deposits and short term prepayment

0.3

-3.8

1.0

-2.0

-

    Other receivables

0.4

-0.9

0.1

1.7

-

    Trade & Other Payables

15.1

21.4

25.4

16.3

-

    Provisions

0.9

1.6

2.1

-4.6

-

    Mark-up on short term borrowings paid

-0.7

-0.6

-1.7

-3.2

-

    Tax Paid

-28.1

-22.7

-19.8

-15.7

-15.1

    Retirement Obligations

-2.7

-1.2

-1.0

-5.1

-4.3

    Increase in long term loans

-0.2

-0.4

0.2

0.3

-0.1

    Long Term Deposit/Prepayments Net

0.1

0.0

4.3

1.8

-7.6

    Cash from Operations

-

-

-

-

531.0

    Cash Paid - Suppliers

-

-

-

-

-378.0

    Payment of Indirect Taxes

-

-

-

-

-105.0

    Payment of Royalty and Technical Fees

-

-

-

-

-13.9

    Interest Paid

-

-

-

-

-5.7

Cash from Operating Activities

67.8

53.9

72.5

63.8

1.3

 

 

 

 

 

 

    Investments in term deposits

-1.7

-

-

-

-

    Capital Expenditures

-23.5

-17.4

-8.5

-10.7

-19.4

    Purchase of Intangibles

0.0

-6.1

-2.3

-0.8

-

    Disposal Fixed Assets

1.4

0.4

0.4

0.8

1.7

    Investment in treasury bills

1.7

0.0

-0.4

-1.2

0.0

    Returns Received on Deposits

0.4

0.4

0.1

0.2

0.2

    Dividend Received

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

-21.6

-22.5

-10.7

-11.7

-17.5

 

 

 

 

 

 

    Liability Against Assets- Finance Lease

-0.2

-0.4

-0.6

-0.5

-0.5

    Dividends Paid

-46.8

-40.2

-35.1

-24.1

-24.2

Cash from Financing Activities

-47.0

-40.6

-35.7

-24.6

-24.6

 

 

 

 

 

 

Net Change in Cash

-0.8

-9.2

26.1

27.5

-40.8

 

 

 

 

 

 

    Cash Interest Paid

-

-

-

-

5.7

    Cash Taxes Paid

28.1

22.7

19.8

15.7

15.1

Net Cash - Beginning Balance

7.2

17.0

-8.9

-36.8

-1.7

Net Cash - Ending Balance

6.3

7.8

17.2

-9.3

-42.5

 

 

 

Financial Health

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2013

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Sale1 

164.4

13.11%

640.0

15.16%

16.09%

20.69%

Operating Income1 

26.2

17.97%

91.0

37.68%

19.62%

26.19%

Income Available to Common Excl Extraord Items1 

16.6

19.30%

58.9

33.96%

21.49%

26.49%

Basic EPS Excl Extraord Items1 

1.25

19.31%

4.43

33.96%

21.49%

26.49%

Capital Expenditures2

5.8

-

23.5

8.27%

32.53%

5.02%

Cash from Operating Activities2 

20.0

-

67.8

36.03%

6.69%

21.37%

Free Cash Flow 

14.0

-

42.6

57.37%

-1.03%

43.12%

Total Assets3 

211.9

20.03%

189.7

14.97%

17.15%

17.86%

Total Liabilities3 

179.3

19.31%

135.0

11.25%

17.31%

16.58%

Total Long Term Debt3

-

-

0.0

-

-

-

Total Common Shares Outstanding3 

13.3

0.00%

13.3

0.00%

0.00%

0.00%

1-ExchangeRate: PKR to USD Average for Period

98.499797

 

93.347634

 

 

 

2-ExchangeRate: PKR to USD Average for Period

98.183251

 

93.347634

 

 

 

3-ExchangeRate: PKR to USD Period End Date

98.979331

 

97.199997

 

 

 

 

Key Ratios

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Profitability

Gross Margin 

36.27%

34.86%

32.63%

34.92%

34.69%

Operating Margin 

14.21%

11.89%

11.16%

12.99%

10.99%

Pretax Margin 

13.50%

11.46%

10.74%

11.87%

9.49%

Net Profit Margin 

9.21%

7.91%

7.35%

8.03%

6.44%

Financial Strength

Current Ratio 

0.83

0.80

0.84

0.80

0.72

Long Term Debt/Equity 

0.00

0.00

0.01

0.02

0.03

Total Debt/Equity 

0.00

0.07

0.10

0.34

1.48

Management Effectiveness

Return on Assets 

31.90%

27.75%

26.24%

26.80%

20.41%

Return on Equity 

115.08%

104.46%

94.37%

109.55%

93.22%

Efficiency

Receivables Turnover 

33.27

35.45

34.00

34.61

35.77

Inventory Turnover 

6.23

6.90

7.38

5.91

5.48

Asset Turnover 

3.46

3.51

3.57

3.34

3.17

Market Valuation USD (mil)

P/E (TTM) 

36.85

.

Enterprise Value2 

2,037.5

Price/Sales (TTM) 

3.21

.

Enterprise Value/Sale (TTM)

3.25

Price/Book (MRQ) 

61.66

.

Enterprise Value/EBITDA (TTM) 

22.78

Market Cap as of 11-Sep-20131

1,903.0

.

 

 

1-ExchangeRate: PKR to USD on 11-Sep-2013

104.786375

 

 

 

2-ExchangeRate: PKR to USD on 30-Jun-2013

98.979331

 

 

 

 

 

 

Annual Ratios

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Financial Strength

Current Ratio 

0.83

0.80

0.84

0.80

0.72

Quick/Acid Test Ratio 

0.23

0.24

0.37

0.23

0.14

Working Capital1 

-21.0

-24.1

-16.4

-16.7

-29.8

Long Term Debt/Equity 

0.00

0.00

0.01

0.02

0.03

Total Debt/Equity 

0.00

0.07

0.10

0.34

1.48

Long Term Debt/Total Capital 

0.00

0.00

0.01

0.01

0.01

Total Debt/Total Capital 

0.00

0.07

0.09

0.25

0.60

Payout Ratio 

99.83%

99.41%

99.60%

99.27%

82.08%

Effective Tax Rate 

31.78%

30.91%

31.54%

32.34%

32.17%

Total Capital1 

54.7

50.7

46.4

53.0

70.8

 

 

 

 

 

 

Efficiency

Asset Turnover 

3.46

3.51

3.57

3.34

3.17

Inventory Turnover 

6.23

6.90

7.38

5.91

5.48

Days In Inventory 

58.57

52.87

49.44

61.74

66.64

Receivables Turnover 

33.27

35.45

34.00

34.61

35.77

Days Receivables Outstanding 

10.97

10.29

10.73

10.55

10.20

 

 

 

 

 

 

Profitability

Gross Margin 

36.27%

34.86%

32.63%

34.92%

34.69%

Operating Margin 

14.21%

11.89%

11.16%

12.99%

10.99%

EBITDA Margin 

15.71%

13.13%

12.41%

14.30%

12.48%

EBIT Margin 

14.21%

11.89%

11.16%

12.99%

10.99%

Pretax Margin 

13.50%

11.46%

10.74%

11.87%

9.49%

Net Profit Margin 

9.21%

7.91%

7.35%

8.03%

6.44%

COGS/Sale 

63.73%

65.14%

67.37%

65.08%

65.31%

SG&A Expense/Sale 

22.75%

22.78%

21.42%

22.22%

22.13%

 

 

 

 

 

 

Management Effectiveness

Return on Assets 

31.90%

27.75%

26.24%

26.80%

20.41%

Return on Equity 

115.08%

104.46%

94.37%

109.55%

93.22%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2 

3.20

2.20

4.61

3.81

-1.21

Operating Cash Flow/Share 2 

4.90

3.89

5.42

4.65

0.09

1-ExchangeRate: PKR to USD Period End Date

97.199997

89.91

85.645

84.325

79.125

2-ExchangeRate: PKR to USD Average for Period

97.199997

89.91

85.645

84.325

79.125

 

 

Current Market Multiples

Market Cap/Earnings (TTM) 

36.85

Market Cap/Equity (MRQ) 

61.66

Market Cap/Sale (TTM) 

3.21

Market Cap/EBIT (TTM) 

23.73

Market Cap/EBITDA (TTM) 

22.52

Enterprise Value/Earnings (TTM) 

37.27

Enterprise Value/Equity (MRQ) 

62.36

Enterprise Value/Sale (TTM) 

3.25

Enterprise Value/EBIT (TTM) 

24.00

Enterprise Value/EBITDA (TTM) 

22.78

 




FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.90

UK Pound

1

Rs.102.74

Euro

1

Rs.85.16

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)