Engro Fertilizers’ half-year profit surges 72.5pc

KARACHI: Engro Fertilizers on Wednesday reported a 72.5 percent increase in its half-year profit, due to an increase in sales.

In a statement to the Pakistan Stock Exchange, the company reported a net profit of Rs9.426 billion for the half-year that ended June 30, up from Rs5.463 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 Rs8 per share.Earnings per share came in at Rs7.06, compared with Rs4.09 last year.

The company said its net sales for the half-year rose to Rs113.204 billion, compared with Rs82.366 billion for the same period a year earlier.The company said its cost of sales increased to Rs88.872 billion during the period against Rs60.167 billion.