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

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Fauji Foods Limited (FFL) reported its financial earnings for the half year ending on June 30^th 2018 to PSX, in its Board of Directors meeting held on July 27^th 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 30^th 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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