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

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 31st, 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.

Posted on: 2018-01-30T13:37:00+05:00