United Distributors Pakistan : Financial Result for the Quarter Ended March 31, 2023

April 28, 2023,

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road, Karachi

Subject: FINANCIAL RESULTS FOR THE NINE MONTHS ENDED MARCH 31, 2023(UN-AUDITED)

Dear Sir,

We have to inform you that the Board of Directors of the Company in their meeting held onFriday, April 28, 2023, at 15:00 at the Registered Office of the Company, recommended the following:

Cash Dividend	NIL
Bonus Share	NIL
Right Shares	NIL
Any other price sensitive information	Please see Annexure "A" attached hereto

The financial results of the Company for the period ended March 31, 2023 are attached.

The Quarterly Report of the Company for the period ended March 31, 2023, will be transmitted through PUCARS separately, within the specified time.

Yours Sincerely,

_____________________

Muhammad Imran

Company Secretary

UNITED DISTRIBUTORS PAKISTAN LIMITED

Plot No. 105 Sector 7-A Mehran Town Korangi Industrial Area, Karachi.

Tel: [phone] ([phone] Email: [e-mail]

UNITED DISTRIBUTORS PAKISTAN LIMITED

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS

FOR THE PERIOD ENDED MARCH 31, 2023 - UNAUDITED

		Nine months ended		Quarter ended
		March 31		March 31		March 31		March 31
		2023	2022		2023	2022
	Note	------------------------------------------	(Rupees in '000') ---------------------------------------
Revenue from contracts with customers	15	547,264	452,844	197,150	128,834
Cost of sales		(325,101)	(244,128)		(115,804)		(70,285)
Gross profit		222,163	208,716	81,346	58,549
Marketing and distribution expenses		(157,018)	(126,104)	(53,605)	(46,131)
Administrative and general expenses		(44,367)	(33,464)	(14,009)	(12,212)
Other operating expenses		(3,849)	(3,211)	(2,998)	(2,736)
Other income		8,889		12,695		1,560		9,232
Operating profit		25,818	58,632	12,294	6,702
Finance cost		(40,865)	(13,081)	(9,631)	(3,994)
Share of (Loss) / profit from associate		(130,246)		(389,599)		-		(467,092)
(Loss) / profit before income tax		(145,293)	(344,048)	2,663	(464,384)
Income tax		9,804		42,625		(875)		66,882
(Loss) / profit after income tax		(135,489)	(301,423)	1,788	(397,502)
Earnings per share - basic and diluted
(Rupees)		(Rs. 3.84)		(Rs. 8.55)		Rs. 0.05		(Rs. 11.27)

COMPANY SECRETARY

UNITED DISTRIBUTORS PAKISTAN LIMITED

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED MARCH 31, 2023 - UNAUDITED

	Nine months ended	Quarter ended
	March 31		March 31	March 31		March 31
	2023		2022	2023	2022
	------------------------------	(Rupees in '000') -------------------------
(Loss) / profit after income tax	(135,489)	(301,423)	1,788	(397,502)
Other comprehensive income / (loss)
Items that will not be subsequently
reclassified in profit or loss:
Change in fair value of investment
carried at fair value through
other comprehensive income (OCI)	(423,611)	(517,267)	(154,868)	(162,237)
Total comprehensive Loss for the period	(559,100)	(818,690)	(153,080)	(559,739)

COMPANY SECRETARY

Annexure 'A"

Dated: April 28, 2023

The General Manager

Pakistan Stock Exchange Limited

Stock Exchange Building

Stock Exchange Road

Karachi

Dear Sirs,

Disclosure of Material Information

In accordance with Sections 96 and 131 of the Securities Act, 2015, and Clause 5.6.1(a) of Rule Book of Pakistan Stock Exchange Limited ("PSX") we hereby convey the following:

At a meeting of the Board of Directors of M/S United Distributors Pakistan Limited (the "Company") held at 3:00 PM on Friday, April 28, 2023 at Plot#105, Korangi Industrial Area, Karachi has approved the divestment of equity shares of International Brands (Private) Limited (i.e. 11,079,852 shares constituting approximately 4.7%) held by the Company to Universal Ventures (Private) Limited. Further, the Board has authorized the Chief Executive Officer and Board Investment Committee Chairman of the Company to carry out the valuation, negotiation and finalizing the terms of the transaction along with preparation of necessary documents for the consideration of the Board.

You may please inform the members of the Exchange, accordingly.

Yours faithfully,

___________________

Muhammad Imran

Company Secretary

Cc:

Director / HOD

Surveillance, Supervision and Enforcement Department

Securities and Exchange Commission of Pakistan

NIC Building, 63 Jinnah Avenue

Blue Area, Islamabad

UNITED DISTRIBUTORS PAKISTAN LIMITED

Plot No. 105 Sector 7-A Mehran Town Korangi Industrial Area, Karachi.

Tel: [phone] ([phone] Email: [e-mail]