FCEPL profit jumps to Rs588m

News Image

MG News | August 16, 2024 at 09:14 AM GMT+05:00

0:00

August 16, 2024 (MLN): Frieslandcampina Engro Foods Limited (PSX: FCEPL) recorded an increase of 75% YoY in its profitability during the second quarter of 2024, earning a profit after tax of Rs587.95 million [EPS: Rs0.76], compared to a profit of Rs335.89m [EPS: Rs0.44] in the same period last year (SPLY).

Going by the results, the company's sales rose 13.1% to Rs27.56bn as compared to Rs24.36bn in SPLY.

The cost of sales rose by 9.4% YoY but was lesser than proportionate to sales rise, which improved the gross profit by 34.7% YoY to Rs4.84bn in Q2 2024.

The gross margins improved to 17.6% as compared to 14.7% in SPLY.

During the period under review, other income marked a decline of 81.4% to stand at Rs138.52m in Q2 2024 as compared to Rs744m in SPLY.

On the expense side, the company's administrative expenses rose 10.4% YoY to Rs469.63m, selling and distribution expenses rose 23.8% YoY to Rs2.35bn, and other operating expenses rose 1.4% YoY to Rs119.21m.

The company’s finance cost rose by 27.9% and stood at Rs1.06bn as compared to Rs831.74m in SPLY, mainly due to higher interest rates.

On the tax front, the company paid a lower tax worth Rs381.15m against the Rs723.6m paid in the corresponding period of last year, depicting a fall of 47.3%.

Unconsolidated (un-audited) Financial Results for quarter ended June 30, 2024 (Rupees in '000)
  Jun 24 Jun 23 % Change
Sales 27,560,144 24,363,985 13.12%
Cost of sales (22,722,448) (20,772,635) 9.39%
Gross Profit/ (loss) 4,837,696 3,591,350 34.70%
Administrative Expenses (469,625) (425,227) 10.44%
Selling And Distribution Expenses (2,354,612) (1,901,381) 23.84%
Other Income 138,522 743,999 -81.38%
Other Operating Expenses (119,212) (117,517) 1.44%
Finance Cost (1,063,674) (831,735) 27.89%
Profit/ (loss) before taxation 969,095 1,059,489 -8.53%
Taxation (381,148) (723,602) -47.33%
Net profit/ (loss) for the period 587,947 335,887 75.04%
Basic earnings/ (loss) per share 0.76 0.44 -

Amount in thousand except for EPS

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 163,098.19
607.60M
-0.87%
-1432.62
ALLSHR 99,276.25
1,397.26M
-0.80%
-801.63
KSE30 50,184.56
221.88M
-0.89%
-450.56
KMI30 238,333.52
129.55M
-1.13%
-2718.46
KMIALLSHR 65,792.54
685.73M
-0.99%
-655.65
BKTi 45,653.52
111.72M
-1.00%
-461.31
OGTi 32,313.25
10.70M
-1.57%
-516.41
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 114,520.00 0.00
0.00
-2470.00
-2.11%
BRENT CRUDE 62.09 65.36
62.00
-3.13
-4.80%
RICHARDS BAY COAL MONTHLY 81.00 81.00
81.00
-1.60
-1.94%
ROTTERDAM COAL MONTHLY 90.50 0.00
0.00
0.40
0.44%
USD RBD PALM OLEIN 1,085.00 1,085.00
1,085.00
0.00
0.00%
CRUDE OIL - WTI 58.24 0.00
0.00
-0.66
-1.12%
SUGAR #11 WORLD 16.10 16.35
15.97
-0.16
-0.98%

Chart of the Day


Latest News
October 12, 2025 at 03:48 PM GMT+05:00

Weekly Market Roundup


October 12, 2025 at 01:19 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


October 11, 2025 at 06:54 PM GMT+05:00

Govt moves closer to privatization of First Women Bank


October 11, 2025 at 01:41 PM GMT+05:00

U.S. to impose 100% tariffs on chinese imports


October 11, 2025 at 01:20 PM GMT+05:00

Crypto bloodbath as Trump drops tariff bombshell on China



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg