Fauji Fertilizer’s Profits Surge to Rs. 14.4 Billion in 2018

Fauji Fertilizer Company Limited (FFC) has boosted its performance as the company has reported an unconsolidated profit of Rs 14.43 billion for the period that ended on December 31, 2018, up by 34.73% from Rs 10.71 billion in the corresponding period last year.

The net sales have increased by 16.67% to Rs  105.96 billion as compared with Rs 90.71 billion in the same period last year while gross profits surged up by over 54.62% to Rs 27.97 billion mainly due to improved urea prices which increased by 23% year on year in 2018.

While in the 4th quarter, net sales of the Company surged by 7.0% due to the 29.8% increase in average DAP and Urea prices in the quarter.

In addition to this, finance cost was cut remarkably by 33.2%, down to Rs 1.63 billion from Rs 2.44 billion in the period under view. The other expenses increased by 28.83%. The overall expenses for the year were recorded lower than last year, which further contributed to profitability.

FFC’s board has also recommended a final Cash Dividend at Rs.3.9 per share i.e. 39%, in addition to an Interim Dividend already paid at Rs. 4.95 per share, i.e. 49.5%.

Earnings per share of the company increased to Rs 11.35 from Rs 8.42.

FFC’s shares at the bourse were trading at Rs 106.50, up by Rs 0.97 or 0.92% with a turnover of 1.42 million shares on Thursday.