Fauji Foods profit after tax up 8.5%
MG News | January 28, 2025 at 03:21 PM GMT+05:00
January 28, 2025 (MLN): Fauji Foods Limited (PSX: FFL) recorded a profit after tax of Rs656 million [EPS: Rs 0.29] in the full year 2024, up a significant 8.5% compared to Rs605m [EPS: Rs 0.29] in the same period of last year.
The business has continued its growth momentum, recording a full-year revenue of Rs23.4 bn.
The three strategic pillars of Margin Accretive Growth, COGS reduction, and Capability, continued to drive the top line as well as bottom line.
Nurpur UHT milk remains the fastest growing Milk brand in Pakistan.
It recorded 45% revenue & 29% volume growth vs SPLY.
In line with the strategy of entering Margin Accretive segments, cereals were acquired in Feb 2024 and Opa Pasta launched in Q4 2024.
With these additions Fauji Foods has a food culinary portfolio spread across multiple culinary occasions.
The commercial sustainability is reflected through the improved structure of the P&L as Gross Margins increased from 13.1% in 2023 to 15.8% in 2024, an increase of 2.7%.
This was driven by continued focus on cost efficiencies backed by improvement in the Supply Chain.
As a result, FFL achieved a full year 2024 operating profit of Rs1.02 billion vs Rs0.41bn in 2023, an increase of 150%.
The business shall continue to benefit from synergies arising from consolidating operations between cereals, dairy and Pasta.
The company is on its journey to build world-class capability across the organization and continues to invest in the right person for the right job philosophy.
Additionally, the digitization agenda is being driven across the businesses to harness insights for growth and efficiency.
With the commercial strategy delivering results, EBIDTA, which has been on a growth path, closed at Rs1.7bn in 2024 from an EBITDA of Rs1.09bn, an increase of 56% over SPLY
| Profit and Loss Account for the year ended December 31, 2024 (Rs) | |||
| Dec-24 | Dec-23 | % Change | |
| Revenue from contracts with customers - net | 23,404,093,663 | 19,370,542,292 | 20.8% |
| Cost of revenue | (19,718,042,016) | (16,826,717,108) | 17.2% |
| Gross profit | 3,686,051,647 | 2,543,825,184 | 44.9% |
| Marketing and distribution expenses | (1,710,529,306) | (1,323,482,146) | 29.2% |
| Administrative expenses | (940,111,486) | (722,329,209) | 30.2% |
| Net impairment loss on financial assets | (17,207,097) | (89,900,000) | |
| Profit from operations | 1,018,203,758 | 408,113,829 | 149.5% |
| Other income | 546,055,414 | 238,475,021 | 129.0% |
| Other expenses | (336,879,444) | (49,545,405) | 579.9% |
| Finance cost | (54,606,906) | (323,792,596) | -83.1% |
| Profit before taxation | 1,172,772,822 | 273,250,849 | 329.2% |
| Taxation | (516,375,011) | 331,860,812 | |
| Profit for the period | 656,397,811 | 605,111,661 | 8.5% |
| Earning per share - basic and diluted (in Rupees) | 0.29 | 0.29 | 0.0% |
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 138,412.25 167.69M | 0.32% 447.43 |
| ALLSHR | 85,702.96 423.92M | 0.15% 131.52 |
| KSE30 | 42,254.84 82.09M | 0.43% 180.24 |
| KMI30 | 194,109.59 84.37M | 0.15% 281.36 |
| KMIALLSHR | 56,713.67 217.03M | 0.03% 16.37 |
| BKTi | 37,831.34 13.04M | 1.62% 603.62 |
| OGTi | 27,440.63 3.93M | -0.09% -23.70 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 119,095.00 | 119,275.00 117,905.00 | 1475.00 1.25% |
| BRENT CRUDE | 72.72 | 72.82 72.70 | -0.52 -0.71% |
| RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
| ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
| USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 70.31 | 70.41 70.18 | 0.31 0.44% |
| SUGAR #11 WORLD | 16.46 | 16.58 16.37 | -0.13 -0.78% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|