July 23, 2020 (MLN): Fauji Foods Limited has announced its financial results for the half-year ended June 30, 2020, as per which, the company has incurred losses of Rs. 1.78 billion (LPS: Rs. 3.37), i.e. 24 percent lower than the losses reported in the same period of last year.

The decline in losses is a result of multiple factors, including the increase in topline revenue by 27% and a decline in gross losses by 73%. Moreover, the company reported a 43.7% and 18.4% decline in its Marketing and Administrative expenses, respectively.

Other positive highlights from the announcement included a 37% increase in non-core income and a 99% decline in non-core expenses. Furthermore, there was an almost 81% decline in the income tax expenses paid by the company during the period.

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