Fauji Fertiliser Co (FFC) posted Rs 8.188 billion as net profit after tax in the half year period ended on June 30, 2011 as compared to Rs 5.101 billion earned in the corresponding period in 2010. The company's earning per share increased to Rs 9.65 in the period under review against Rs 6.01 in the same period of last year.
The board of directors of the company in its meeting held on Friday in Venice, Italy, recommended second interim dividend for the half year ended June 30, 2011 at Rs 4.75 per share ie 47.5 percent. This is in addition to first interim dividend already paid at Rs 4.50 per share ie 45 percent. According to the financial results sent to Karachi Stock Exchange (KSE), the company's sales increased to Rs 24.220 billion in the half year period this year against Rs 19.946 billion in the same period of last year. The company's cost of sales reduced to Rs 10.527 billion against Rs 11.113 billion.
The company' distribution cost increased to Rs 2.165 billion in this period against Rs 1.869 billion in the same period of last year while finance cost reduced to Rs 471.309 million against Rs 493.721 million. The company's other expenses increased to Rs 1,121.439 million against Rs 629.997 million while other income increased to Rs 2.881 billion against Rs 1.524 billion.
The company's profit before taxation surged to Rs 12.816 billion in the first half of 2011 against Rs 7.365 billion in the same period last year. On quarterly basis, the company's profit after tax increased to Rs 4.079 billion translating into earning per share of Rs 4.81 in the quarter ended June 30, 2011 as compared to after tax profit of Rs 2.372 billion with per share earning of Rs 2.80 earned in the corresponding period in 2010.
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