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.
