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EFERT Review: A rather uninspiring performance

August 8, 2019 (MLN): Engro Fertilizers Limited has announced its financial results for the half year ended June 30, 2019, wherein it has reported net earnings of Rs. 7.1 billion, exhibiting almost no change from the earnings reported in same period of last year.  

The company’s earnings per share stood at Rs. 5.38 for the stated period. Moreover, it announced an interim cash dividend of Rs. 5 per share i.e. 50%.

The sales revenue reported positive growth of 23% on account of increase in Urea and DAP prices. However, the increase in policy rate pushed the finance costs up by 127%, causing the impact of increased sales to collapse.

The company’s overall performance did not meet the market expectations, in which most of the research houses expected the net profits to be above Rs. 7.4 billion at least.   

Consolidated Financial Results for the Half Year ended June 30, 2019 (Rupees'000)

 

Jun-19

Jun-18

% Change

Net sales

50,642,948

41,116,414

23.17%

Cost of sales

-34,527,984

-27,096,110

27.43%

Gross profit

16,114,964

14,020,304

14.94%

Selling and distribution expenses

-3,380,782

-3,272,515

3.31%

Administrative expenses

-590,983

-512,045

15.42%

Other income

2,438,382

1,654,086

47.42%

Other operating expenses

-986,740

-571,921

72.53%

Finance cost

-2,019,147

-886,141

127.86%

Profit before taxation

11,575,694

10,431,768

10.97%

Taxation

-4,391,519

-3,282,392

33.79%

Profit for the period

7,184,175

7,149,376

0.49%

Earnings per share – basic and diluted

5.38

5.35

0.56%

 

Copyright Mettis Link News

Posted on: 2019-08-08T14:48:00+05:00

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