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FFC earning soars by 24% during 4QCY18

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Fauji Fertilizer Company Limited (FFC) announced the financial result for CY18 on Thursday where the company posted a profit after tax (PAT) of Rs 14.4 billion (earning per share Rs. 11.35), up by 35% YoY from last year’s profitability of Rs. 10.7 billion (earning per share Rs. 8.42).

 

On a sequential basis, profitability during 4QCY18 surged by 24% YoY to clock-in at Rs. 5.9 billion (earning per share Rs. 4.65).

 

Along with the result, the company announced a final cash dividend of Rs.  3.90 per share taking CY18 dividend to Rs. 8.85 per share.

 

Sales surged by 17% YoY to Rs. 106 billion during CY18, predominantly attributable to 16% YoY higher urea prices along with 25% YoY surge in DAP prices.

 

Gross margins clocked-in at 26.4% in CY18 (up by 6.5ppt YoY), owing primarily to higher urea and DAP prices.

 

Financial charges declined by 34% YoY to Rs. 1.6 billion amid lower borrowings, while other income dropped by 39% YoY to Rs. 6.3 billion on account of absence of cash subsidy on urea and DAP.

 

The company booked effective taxation at 33% in CY18.

 

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
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