Engro Fertilizers profit up 1pc

KARACHI: Engro Fertilizers on Thursday reported a one percent increase in its half-year profit on an increase in its sales.

In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs5.463 billion for the half-year ended June 30, up from Rs5.413 billion during the same period the previous year.

The company also announced an interim cash dividend of Rs3 per share, which is in addition to the interim dividend already paid at Rs3.50 per share. Earnings per share came in at Rs4.09 a share, compared with Rs4.05 a share last year.

The company said its net sales for the half-year rose to Rs82.366 billion, compared with Rs75.136 billion for the same period a year earlier. Engro said its cost of sales increased to Rs60.167 billion during the period against Rs52.584 billion. For the quarter that ended June 30, the company posted a net profit of Rs1.059 billion against losses of Rs98.317 million during the same quarter last year.