Losses for Fauji Food Limited increase by 20% for the half year end June 30th 2018
MG News | July 27, 2018 at 03:29 PM GMT+05:00
Fauji Foods Limited (FFL) reported its financial earnings for the half year ending on June 30th 2018 to PSX, in its Board of Directors meeting held on July 27th 2018.
The financial statement reported a YoY increase of 54% in net sales, while an increase of 917% in Gross profit, as compared to the half year ending on June 30th 2017.
Other income decreased by 39% while Marketing and Distribution Expenses increased by 21% resulting in a drop of 8% in Loss from operations.
Moreover, Finance Cost increased by 44%, hence the Loss for the period increased by 20%.
| Profit and Loss Account - For the Half Year Ended June 30th 2018 (Rs'000) | |||
| June 30th, 2018 | June 30th, 2017 | % Change | |
| Sales-net | 3,873,698,298 | 2,520,039,306 | 54% |
| Cost of Sales | (3,563,025,425) | (2,489,503,975) | 43% |
| Gross Profit | 310,672,873 | 30,535,331 | 917% |
| Marketing and distribution expenses | (1,100,623,824) | (913,043,552) | 21% |
| Administratve expenses | (215,447,258) | (218,091,869) | -1% |
| Other income | 9,976,426 | 16,328,702 | -39% |
| Loss from operations | (995,421,783) | (1,084,271,388) | -8% |
| Finance cost | (280,754,356) | (195,236,197) | 44% |
| Loss before taxation | (1,276,176,139) | (1,279,507,585) | 0.3% |
| Taxation | (198,522,906) | 52,596,012 | |
| Loss for the period | (1,474,699,045) | (1,226,911,573) | 20% |
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