Fauji Fertilizer Company (FFC), held its first Corporate Briefing for the year 2022, as a part of its best corporate governance practices.
FFC has been recognized by Pakistan Stock Exchange (PSX) as first amongst the Top 25 companies consecutively for 10 years attributed to its Compliance of Code of Corporate Governance, Company Performance and Efficient Management.
In the same backdrop, the subject briefing for the year ended 31st December 2021 was held at FFC’s Corporate Head Office, Rawalpindi where prominent capital market analysts and dignitary from PSX Ms. Raeda Latif attended the event virtually.
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Company Secretary FFC, Brig Asrat Mahmood SI(M) (Retd) opened the meeting and apprised the house about the significance of the event. Chief Financial Officer, Mr. Mohammad Munir Malik briefed the house about FFC’s performance for the year 2021, responded to various queries raised by analysts, and assured the company’s commitment to achieving higher standards of performance and sustained earnings.
FFC earns net profit of Rs 21.89 billion
Recently, FFC announced its financial results for the year ended December 31, 2021, in its Board of Directors meeting held on January 31, 2022. The company achieved a net profit of Rs 21.89 billion translating into an EPS of Rs 17.21 which was 5% higher than the last year.
The company also declared the final dividend of Rs 4.65 per share, with an aggregate distribution of Rs 14.50 per share for the year 2021.
During the year FFC produced 2,507 thousand tonnes of Sona Urea and registered aggregate sales revenue of Rs 108.65 billion. Other income of the company also increased due to higher return on investments and increased dividend distribution by associated companies.
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To clarify, other income showcased a surge of 36% YoY to PKR 2,005mn on account of higher income from cash balances. Hence other income in CY21 arrived at PKR 7,919mn, up by 23% YoY given dividend income from associated companies.