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corporate results: Fauji Fertilizer posts distinction of Rs11.78 billion, down 30%
- Updated: January 31, 2017
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- Wednesday, 01 Feb 2017
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KARACHI: Fauji Fertilizer Company Limited (FFC) has announced a distinction of Rs11.78 billion in a year finished Dec 31, 2016, down 30% compared with Rs16.76 billion in a same duration final year, according to a association notice sent to a Pakistan Stock Exchange (PSX).
Earnings per share (EPS) forsaken to Rs9.26 from an EPS of Rs13.18 in a duration underneath review.
Along with a results, a association announced a final money division of Rs2.75 per share, holding accumulative division for a year to Rs7.90 per share.
On a consecutive basis, a association posted a 64% quarter-on-quarter burst in profitability essentially on comment of a 32% quarter-on-quarter burst in urea off-take.
The association share sealed during Rs115.8, adult 0.8% with a KSE-100 index finale during 48,757, down 214 points or 0.44%.
Total sales declined by 14% year-on-year to Rs73 billion during a period, attributable essentially to reduce urea prices amid proclamation of a funding package in FY16-17 budget.
Gross margins clocked in during 25% in calendar year 2016 (down 9 commission points year-on-year), especially due to subsidised urea prices along with discounts offering by a association to transparent inventory.
Financial charges stretched massively by 63% year-on-year to Rs2.4 billion, due to protracted borrowings.
While a 72% swell in other income was aided essentially by money funding on urea and Di-ammonium Phosphate (DAP) underneath this head.
The association requisitioned effective taxation rate of 32% in calendar year 2016.
Published in The Express Tribune, Feb 1st, 2017.
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