FLASHNEWS:

JS Securities Limited – Result Review (29-07-2021)

Karachi, July 29, 2021 (PPI-OT): FFBL: Profit in the green zone!

Fauji Fertilizers Bin Qasim Limited (FFBL) announced its 2QCY21 results, wherein during the period the company posted an unconsolidated profit of Rs2,609mn (EPS: Rs2.0) against a loss of Rs1,160mn (LPS: Rs0.9) in the corresponding period last year. Operating profit clocked in at Rs1,703mn during the quarter, a 347% increase over SPLY. This indicates better DAP margins currently being earned by the company as the company was able to increase local prices to pass on the input costs during the qtr. Unexpected dividend payment from Fauji Power Company Ltd. (FPCL) also lifted the EPS. The company did not declare any dividend payout alongside results.

FFBL also announced as price sensitive information the decision to merge FFBL Foods with the company. FFBL Foods is a wholly owned subsidiary (100% holding) which never commenced its commercial operations and has been dormant since incorporation.