Fauji Fertilizer Company (FFC) held its Annual General Meeting thus establishing a quorum of 59.58 percent with representation either in person or through Video Conferencing and proxies from individual shareholders as well as from all major equity holders.
Brig Asrat Mahmood, SI(M) (Retd), Company Secretary FFC, opened the house. The Chairman FFC Board of Directors, Mr. Waqar Ahmed Malik welcomed the participants of the meeting. Managing Director and Chief Executive Officer FFC, Mr. Sarfaraz Ahmed Rehman apprised the shareholders of the performance of the Company during the year 2021.
Mr. Sarfaraz Ahmed Rehman while responding to various queries from shareholders, informed the house about the goals and future strategy of the Company. He further assured FFC’s commitment to achieve higher standards of performance and to provide sustained earnings to the valued shareholders despite the challenging circumstances.
Read more: FFC holds first corporate briefing for the year 2022
FFC earns net profit of Rs 21.89 billion!
Earlier, 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 an 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.
Read more: FFC holds second successful corporate briefing for the year 2021
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.
AHL Alert: 31-Jan-22
Fauji Fertilizer Company Limited (FFC) announced its financial result today where the company posted profit after tax of PKR 6,008mn (EPS: PKR 4.72) during 4QCY21 compared to PKR 7,055mn (EPS: PKR 5.55) in 4QCY20.#KSE100 #PSX #Equities #Pakistan pic.twitter.com/mgKxYeDYU0
— Arif Habib Limited (@ArifHabibLtd) January 31, 2022