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WEEKLY
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| FFC announces 30pc cash dividend |
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Thursday, July 31, 2008
By our correspondent
KARACHI: Fauji Fertilizer Company (FFC) has posted a net profit of Rs3.3 billion for the first half of calendar year 2008. This is 38 per cent higher than Rs2.4 billion the Company earned in the corresponding period last year.
Therefore, FFC announced a second interim cash dividend of 30 per cent i.e. Rs3 per share, said a Company notification send to KSE following board meeting.
The Earning per Share (EPS) for the said period enhanced to Rs6.7 as compared to Rs4.8 in same period in 2007.
Earnings of Company increased on the back of higher urea prices under the review period as price increased to Rs600 per bag by Jun 2008, as well as higher volumetric urea sales, standing at 1.2 million tons as against one million tons in first half of 2007.
Consequently, net sales of the company increased by 39 per cent to stand at Rs14 billion compared to Rs10 billion in the corresponding period last year. Resultantly, gross margins of the company increased to 44 per cent as compared to 43 per cent last year. In addition, finance cost of the company depicted a decline of 27 per cent to stand at Rs230 million. However, other income of the company fell by 13 per cent to stand at Rs678 million.
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ISSN 1563-9479 
