FFC half-year earnings rise 36pc

Fauji Fertilizer Company (FFC) on Tuesday reported a 36 percent increase in its half-year earnings due to an increase in the net turnover.

In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs13.078 billion for the half-year ended June 30, up from Rs9.599 billion during the same period last year.

The company also announced an interim cash dividend for the half-year at Rs3.15, which is in addition to the interim cash dividend already paid at Rs4.26/share. Earnings per share came in at Rs10.28, compared with Rs7.55 a year ago.

Turnover for the period rose to Rs71.958 billion from Rs54.705 billion a year earlier. The cost of sales also increased to Rs40.730 billion from Rs33.805 billion, the company said.

For the quarter ended June 30, the company reported a net profit of Rs5.348 billion, up from Rs3.359 billion recorded during the same quarter last year. EPS for the quarter was Rs4.20 compared with Rs2.64 in Q1 last year.