News Column

FFBL Board to approve 2QCY14 financial result on 22nd

July 17, 2014

The Board of Directors of Fauji Fertilizer Bin Qasim Limited (FFBL) is scheduled to meet on Tuesday, 22nd July, to approve company’s 2QCY14 financial result. It is expected the company will post a net profit after tax of Rs718m in 2QCY14 compared to Rs1.3b reported in 2QCY13, a decline of 46%YoY. The subdued profitability in quarter under preview is owing to 24%YoY lower sales of PKR9.5bn as FFBL’s DAP offtake declined by 24%YoY in the quarter. Moreover, PKR103/mmbtu hike in GIDC on feed stock is also expected to play its part in taking gross margin to 20% from 29%. The expected result will take 1HCY14 sales to PKR16bn.

23% down from PKR20bn earned in 1HCY13.

The finance cost is expected to be restricted around PKR483mn compared to PKR624mn in similar half last year, where the decline is mostly attributable to exchange gain recorded in 1QCY14.

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Source: Nation (Pakistan)

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