KARACHI: Fauji Fertiliser Company (FFC) on Thursday posted profit after tax (PAT) at Rs8.2 billion, converting into earnings per share (eps) at Rs6.41 for 1H2014.

The earnings were down 14 per cent YoY from PAT at Rs9.5bn and eps at Rs7.46 in 1HCY13.

The financial figures were accompanied by a second interim cash dividend at Rs3.40 per share, taking total cash dividend to Rs6.40 per share in 1H2014.

Most analysts said that the earnings declared were below market estimates, though the dividend payout was in line with consensus expectations.

During 1H2014, top-line of the company increased by 4.6pc YoY to Rs35.9bn while cost of sales surged by 19.8pc YoY to Rs21.7bn mainly due to inability of the company to fully pass on the impact of increase in gas prices at the start of the year.

Gross profit margins declined by 764pps to 40pc for the half year under review, from 47pc in 1H2013.

Published in Dawn, July 25th , 2014