FFL's losses expand by 59% during 1HCY19

News Image

MG News | July 25, 2019 at 03:45 PM GMT+05:00

0:00

July 25, 2019 (MLN): Fauji Foods Limited (FFL) has announced its financial results for the half year ended on June 30, 2019, as per which the company observed a significant increase in its losses by 59% to Rs 2.3 billion from Rs 1.47 billion incurred in the corresponding period last year.

The losses were increased primarily due to decline in top-line earnings by 31.4%, which turned company's gross profit in to negative (Rs.415.5 million) despite considerable cut down (20%) in cost of sales which logged in at Rs.2.95 billion.

The other factors that contributed to increase in losses were the jump in finance cost by 163%, administrative expenses by 3.8% and tax payments by 4%.

The company’s Loss per share (LPS) for the aforementioned period stood at Rs. 4.43, as compared to Rs.2.79 recorded in the corresponding period last year.

Profit and Loss Account - For the half-year ended June 30, 2019 (Rs)

 

Jun-19

Jun-18

% Change

Sales-net

 2,534,803,217

 3,693,630,415

-31.4%

Cost of Sales

 (2,950,292,448)

 (3,687,603,942)

-20.0%

Gross Profit

 (415,489,231)

 6,026,473

 

Administrative expenses

 (223,715,095)

 (215,447,258)

3.8%

Marketing and Distribution Expenses

 (773,680,145)

 (795,977,424)

-2.8%

Other expenses

 (7,678,704)

 -

-

Other income

 22,926,792

 9,976,426

129.8%

Loss from operations

 (1,397,636,383)

 (995,421,783)

40.4%

Finance cost

 (738,942,419)

 (280,754,356)

163.2%

Loss before taxation

 (2,136,578,802)

 (1,276,176,139)

67.4%

Taxation

 (206,602,474)

 (198,522,906)

4.1%

Loss for the period

 (2,343,181,276)

 (1,474,699,045)

58.9%

Loss per share - basic and diluted (in Rupees)

 (4.43)

 (2.79)

58.8%

 

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 117,115.00 119,740.00
116,460.00
-1180.00
-1.00%
BRENT CRUDE 73.37 73.63
71.75
0.86
1.19%
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 70.18 70.51
68.45
0.97
1.40%
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