Fauji Food’s Loss for the Period increases by 182%, loss per share reaches 89%
MG News | July 26, 2017 at 11:53 AM GMT+05:00
The company's Sales increased by 133percent in the outgoing year, whereas the loss for the period also increased 182percent in comparison to previous year.
Comparison of Key Financials:
| For the Half Year Ended | |||
| Key Financials | 30th June, 2017 | 30th June, 2016 | % Change |
| Sales | 2,520,039,306.00 | 1,080,039,303.00 | 133% |
| Cost of Sales | 2,489,503,975.00 | 987,454,686.00 | 152% |
| Gross Profit | 30,535,331.00 | 92,584,617.00 | -67% |
| Marketing and Distribution Expense | 913,043,552.00 | 565,880,231.00 | 61% |
| Administrative Expense | 213,367,206.00 | 99,076,455.00 | 115% |
| Loss from Operations | -1,101,208,323.00 | -586,313,782.00 | 88% |
| Finance Cost | 178,299,262.00 | 62,004,497.00 | 188% |
| Loss for the Period | -1,226,911,573.00 | -435,139,625.00 | 182% |
| Loss per share - basic and diluted | -9.29 | -4.91 | 89% |
The Company issued no Cash Dividend, Bonus Shares for the period.
However, it has recommended to issue 300% right shares at the price of Rs. 10/-per share in the proportion of 300 ordinary shares for every 100 Ordinary or 100 Non-Voting Ordinary Shares for the above mentioned period.
- The purpose of the issue is Business Expansion/Diversification and Working Capital Requirements
- The proceeds from Right Issue will be utilized for expansion of sales and distribution network; increasing media spend for enhanced brand equity, improvement of Raw Milk procurement System, research and development of new products and working capital.
- 396,305,394 Voting Ordinary Shares (300% of existing paid-up capital of the Company) be offered by the way of right shares to the holders of Voting Ordinary Shares and Non-Voting Ordinary Shares in equal proportion to their respective existing holdings.
- The risk associated is of Investment.
The complete statements can be accessed here.
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