Fauji Fertilizer Company Ltd. profits fall 9.09% to Rs. 10.711 billion

By MG News | January 30, 2018 at 01:37 PM GMT+05:00

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Fauji Fertilizer Company (FPCL) today released financial results for the year ending December, 2017. FFC Sales during the reported period went up by 24.48%, with a 32.45% increase in Cost of Sales. The FFC Sales during the year clocked in at Rs. 90.714 billion against Rs. 72.876 billion.

FFCL releases on the exchange show a relatively unmoved performance during the year due to a jump in Cost of Sales. During 2017, FCCL incurred an additional cost of Rs. 1.411 billion with other income falling by 3.2%.

Despite a marked reduction in company’s expenses the fertilizer giant Net Profit after Taxation declined by 9% to Rs. 10.711 billion versus Rs. 11.781 billion during the year. The company reported an EPS of Rs. 8.42 vs. an EPS of Rs. 9.26 during year ending December, 2017.

The Board of Directors at the company declared a final cash dividend for the year ended December 31^st, 2017 at Rs. 3.00 per share i.e. 30%. This is in addition to interim dividend already paid at the Rs. 4.00 per share i.e. 40%.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Year Ended, December, 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Sales	90,714,114	72,876,687	24.48%
Cost of Sales	72,620,911	54,827,041	32.45%
Gross Profit	18,093,203	18,049,646	0.24%
Distribution Cost	8,574,081	7,154,244	19.85%
Finance Cost	2,470,672	2,405,589	2.71%
Other Expenses	1,630,750	1,760,663	-7.38%
Other Income	10,323,615	10,664,843	-3.20%
Net Income before Taxation	15,741,315	17,393,993	-9.50%
Taxation	5,030,000	5,612,000	-10.37%
Net Profit after Taxation	10,711,315	11,781,993	-9.09%
EPS - Basic and diluted	8.42	9.26	-9.07%

Company release on Earnings Report can be accessed here.

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