FCEPL: Profitability ascends to Rs2.46mn in CY22

MG News | February 09, 2023 at 11:54 AM GMT+05:00

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February 09, 2023 (MLN): The Friesland Campina Engro Pakistan Limited (FCEPL) has disclosed its earnings for the year ended in December 2022, wherein the profit after tax swelled by 36.67% YoY to Rs2.46 billion, as per the notice issued by PSX.

According to the results, the turnover of the company showed an impressive increase of Rs73.47bn, up by 41.04% YoY as compared to Rs52.09bn in the same period last year.

The gross margin of the company in CY22 stood at 16.48% YoY, against 16.96% YoY in SPLY.

On the cost front, distribution and marketing expenses, administrative expenses, and other operating expenses increased by 30.30% YoY, 29.93% YoY, and 41.85% YoY, respectively.

The finance cost of the company also posted a huge increase of 60.18% YoY to clock in at Rs1.38bn.

On the tax side, the company paid Rs1.48bn tax an increase of 91.33% YoY against Rs77.6 million in the corresponding period last year.

Consolidated Financial Results for the year ended December 31, 2022 (Rupees)
	CY22	CY21	Change %
Revenue	73,473,687	52,094,197	41.04%
Cost of Sales	-61,365,299	-43,256,759	41.86%
Gross Profit	12,108,388	8,837,438	37.01%
Distribution and marketing expenses	-5,934,021	-4,553,982	30.30%
Administrative expenses	-1,718,343	-1,322,508	29.93%
Other Operating Expenses	-446,721	-314,934	41.85%
Other income	1,321,478	795,749	66.07%
Operating profit	5,330,781	3,441,763	54.89%
Finance cost	-1,379,787	-861,374	60.18%
Profit before taxation	3,950,994	2,580,389	53.12%
Taxation	-1,485,321	-776,311	91.33%
Profit after taxation	2,465,673	1,804,078	36.67%
Earnings per share – basic and diluted (Rupees)	3.22	2.35	37.02%

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