LAHORE ( HAFEEZ REPORT )
Fauji Fertilizer Company Limited (FFC) has announced financial results for the year 2016. Consequently, net profit of Rs. 11.782 billion was earned translating into an EPS of Rs. 9.26, lower by 30% compared to last year. The Company also declared dividend of Rs 2.75 Per Share for the quarter thus aggregating Rs 7.90 Per Share for the year 2016.
The Company achieved highest ever annual ‘Sona’ urea production of 2,523 tones. The Company attained ‘Sona’ urea sales of 2,428 tones during the year, despite unfavorable market conditions with aggregate sales revenues of Rs 79.856 billion including subsidy income of Rs 6.979 billion.
Income on investments and deposits was recorded at Rs. 1.276 billion, a decline of 36%. Dividend income of Rs 2.409 billion was lower by 11% compared to last year mainly due to lower dividend receipts from associated undertakings. The tax charge of Rs 5.612 billion for the year included the uncontrollable incremental cost of Super Tax of Rs 690 million.