Fauji Foods Limited posts losses worth Rs. 618 million
MG News | April 23, 2018 at 03:34 PM GMT+05:00
Fauji Foods Limited (FFL) today announced financial results for the three months period ending 31 March, 2018 reporting Net Sales earned worth Rs. 1.949 billion. Furthermore, the company’s Gross Profit for the year jumped up by 3064 percent at 173 million during the outgoing three months.
On the expenses front, FFL reported 43.41 percent increase in Marketing & Distribution Expenses, 8.84 percent decrease in Administrative Expenses, whereas, other expenses at the company decreased by 8.82 percent during the period.
Fauji Foods Limited reported loss after taxation at Rs. 618.5 million up from 446.664 million of losses last year translating into an EPS of Rs. -1.17 vs. an EPS of Rs. 2.55 during the three months ending March, 2017.
Fauji Foods in a notice issued on September 29th, 2017 informed stakeholder of 300 percent right issue at PKR Rs. 10 per share. It is to be noted that the previous earnings per share were calculated with the total of 112,499,798 shares. However, the current EPS has been against 449,999,102 shares after a 300 percent rights issue.
| Unconsolidated Profit and Loss Account - For the Three Months Ended, March 30th 2018 | |||
|---|---|---|---|
| Key Financials | March, 2018 | March, 2017 | % Change |
| Amounts in PKR | |||
| Sales - Net | 1,949,729,661 | 1,269,080,631 | 53.63% |
| Cost of Sales | 1,775,974,320 | 1,263,589,908 | 40.55% |
| Gross Profit | 173,755,341 | 5,490,723 | 3064.53% |
| Marketing and Distribution Expenses | 532,429,514 | 371,275,754 | 43.41% |
| Administrative Expenses | 101,942,089 | 111,827,425 | -8.84% |
| Other Income | 6,040,380 | 6,475,471 | -6.72% |
| Other Expenses | 6,468,236 | 7,094,135 | -8.82% |
| Loss from Operations | 461,044,118 | 478,231,120 | -3.59% |
| Finance Cost | 135,160,308 | 76,299,183 | 77.15% |
| Loss before Taxation | (596,204,426) | (554,530,303) |
|
| Taxation | 22,296,181 | 107,865,943 | -79.33% |
| Loss after Taxation | (618,500,607) | (446,664,360) |
|
| Loss per Share - Basic and diluted (Restated) | (1.17) | (2.55) |
|
Company release on Earnings Report can be accessed here.
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