Fauji Fertilizer Bin Qasim (FFBL) posts 16pc decline in earnings

KARACHI: Fauji Fertilizer Bin Qasim (FFBL) has announced a net profit of Rs778.1 million for the year ended December 31, 2018, which is 16 percent lower than the profit of Rs925.2 million recorded in the previous year.

The earnings per share (EPS) for the year 2018 clocked in at Rs1.68 as against EPS of Rs2.03 in 2017. Fauji Fertilizer Bin Qasim (FFBL) also announced a final cash dividend of Rs1.0/share along with the corporate announcement.

Net sales income for the year stood at Rs77.5 billion, up 20 percent compared with sales revenue of Rs64.38 billion in the previous year. “Sales revenue grew primarily due to increase in retention prices for Urea and DAP,” an analyst at Taurus Securities said.

Finance cost surged 37 percent to Rs5.21 billion in 2018 as against Rs3.8 billion in 2017. Share of profit of joint venture and associates stood at Rs2.4 billion as against Rs2.34 billion previously. [the_ad id=”31605″]

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