Fatima Fertilizers Ltd reports 28.5% improvement in net profits for FY18

04:51
April 1, 2019
MG

April 1, 2019 (MLN): Fatima Fertilizers Limited has reported net profits of Rs. 11 billion for the year ended December 31, 2018, depicting a 28.55% increase as compared to the earnings of previous year. Moreover, the company’s Earnings per Share stood at Rs. 5.67.

The upward trajectory in the net earnings was a result of improved sales revenue (13.09%), as well as reduced cost of sales (3.92%) of the company.

In spite of a massive increase in the taxation expense from Rs. 852 million to Rs. 4.8 billion, the company still managed to perform remarkably.

The company also announced a final cash dividend for the aforementioned period at Rs. 1.75 per share i.e. 17.5%.

Profit and loss account for the year ended December 31 2018 (Rupees'000)
	Dec-18	Dec-17	% Change
Sales	51,309,994	45,371,156	13.09%
Cost of sales	-25,639,375	-26,685,583	-3.92%
Gross profit	25,670,619	18,685,573	37.38%
Distribution cost	-3,684,686	-3,610,140	2.06%
Administrative expenses	-2,316,965	-1,736,973	33.39%
Finance cost	-1,822,902	-2,707,253	-32.67%
Other operating expenses	-1,708,069	-914,015	86.88%
Other income	603,101	403,094	49.62%
Share of profit from Associate	49,211
Profit before tax	16,790,309	10,120,286	65.91%
Taxation	-4,876,754	-852,343	472.16%
Profit for the year	11,913,555	9,267,943	28.55%
Earnings per share- basic and diluted	5.67	4.41	28.57%

Copyright Mettis Link News

Posted on: 2019-04-01T09:51:00+05:00

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