Colgate‑Palmolive (Pakistan) Ltd (COLG) closed its financial year ended 30 June 2024 with gross revenue of Rs116 billion, up just 2.4% from Rs113 bn a year earlier. Net revenue grew at a slightly gentler clip of 23.8% to Rs113.23 bn as higher sales‐tax incidence and heavier trade promotions diluted some of the top‑line momentum.
Put together, the year can be characterised as inflation‑led growth carried by margin recovery, rather than a volume‑led expansion. That nuance explains why the market greeted the results with only muted enthusiasm: COLG’s share price eked out a 1.8% gain on the announcement day but quickly drifted lower as investors digested the real‑growth picture. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
