Rawalpindi(Business Reporter);Fauji Fertilizer Company Limited (FFC) has announced its financial results for the half year ended June 30, 2024, showcasing a remarkable performance. The company’s return on investments and dividend income reached a record high of Rs 15.8 billion, up from Rs 6.3 billion last year.
FFC has initiated direct sales of its urea products through company-owned stores, providing farmers with a convenient channel to purchase products. The company aims to open 70 such outlets across Pakistan by the end of the third quarter, 2024.
The company’s plants produced 1,279 thousand tonnes of Sona Urea, operating at improved efficiencies. Stringent cost controls enabled improved returns for shareholders. Sona Urea sales stood at 1,280 thousand tonnes, a 3% increase from last year.
FFC & AKBL Join Hands to Boost Agricultural Financing
FFC’s urea market share improved to 46% compared to 40% during the same period last year. The company’s net profitability stood at Rs 26.1 billion, with earnings per share of Rs 20.49, up from Rs 10.28 per share last year.
The Board of Directors has announced a second interim dividend of Rs 10 per share, bringing the total distribution for the first half of 2024 to Rs 15.50 per share.
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