Trade Chronicle May & June 2015

TRADE CHRONICLE
Fertilizer & Petrochemical Industries
Pakistani national
appointed IFA Director
The International Fertilizer
Association (IFA) has recognised
Pakistan’s leading fertiliser
company and has elected second
consecutive Pakistani national as
a Director of the prestigious and
globally famous “International
Association for the Global Fertilizer
Industry” (IFA), says a statement
said issued recently.
This honour has gone to the
incumbent Chief Executive and
Managing Director of the Fauji
Fertilizer Company (FFC) Lt Gen
Shafqaat Ahmed (Retd), it said.
The Lt General has the honour of
serving at top positions in Pakistan
Army.
A spokesperson of the FFC, termed
the development a matter of pride
for the nation and said that IFA have
selected a second consecutive
director on its board from FFC,
Pakistan, the statement said. “IFA
has over 525 members in 85
countries and now has
representation on the board of
directors from Pakistan,” he said.
The decision to take Lt Gen Ahmed
(Retd) on board of directors was
made at the latest board meeting
held in Istanbul, Turkey on May 27,
2015, it added.
Engro earns net profit of
Rs. 4.238bn
Engro Corporation announced a net
profit of Rs4.238 billion, translating
into the earnings per share (EPS) of
Rs6.94 for the quarter ended March
31, 2015 as compared to the net profit
of Rs2.29 billion and EPS of Rs4.02
in the same quarter last year.
The sales revenue of the company
stood at Rs41.372 billion for the
quarter as against Rs38.354 billion in
the corresponding period last year.
Tahir Abbas at Arif Habib Limited
said corporation’s fertiliser business
continued its momentum as Engro
Fertilizer recorded 113 percent jump
in earnings to Rs3.059 billion during
the period, mainly due to 57 percent
jump in other income and 11 percent
decline in the financial charges.
Food business remained the major
outperformer during the quarter as
Engro Foods posted 462 percent
growth in revenue to Rs1.069 billion
during the quarter on account of
improved margins. Chemical business
remained under pressure as Engro
Polymer (EPCL) posted loss-aftertax
of Rs107 million due to plant
shutdown. However, PVC margins
increased by 3.8 percent due to sharp
decline in ethylene price.
Fauji Fertilizer declares
cash dividend
Fauji Fertilizer Company (FFC) has
declared an interim cash dividend of
Rs3.94 per share for the quarter
ended March 31, 2015. Fauji Fertilizer
announced a net profit of Rs5.907
billion, translating into the earnings per
share (EPS) of Rs4.64 for the quarter
ended March 31, 2015 as compared
to the net profit of Rs4.557 billion and
EPS of Rs3.58 in the same quarter
last year. The sales revenue of the
company stood at Rs20.408 billion for
the quarter as against Rs17.573 billion
in the corresponding period last year.
Engro Fertilizer’s
profits surge
Engro Fertilizer has announced a net
profit of Rs3.058 billion, translating in
the earnings per share (EPS) of
Rs2.30 for the quarter ended March
31, 2015. The company had posted a
profit of Rs1.437 billion and EPS of
Rs1.12 in the same quarter last year.
The sales revenue for the quarter
under review stood at Rs17.673 billion
as against Rs14.895 billion in the
corresponding quarter last year. Tahir
Abbas at Arif Habib Limited said the
company’s sales grew 19 percent,
mainly due to four percent jump in
urea prices, which offset the impact
of one percent decline in the urea
offtake. Gross margins remained flat
at 38 percent, highlighting the
company did not receive concessionary
gas flow at $0.7/mmbtu.
FFBL posts profits of
Rs98.122 million
Fauji Fertilizer Bin Qasim (FFBL) has
announced a net profit of Rs98.122
million, translating into the earnings
per share (EPS) of 11 paisas for the
quarter ended March 31, 2015. The
company had posted a net profit of
Rs186.315 million and EPS of 20
paisas for the quarter ended March
31, 2014. The company posted sales
revenue of Rs5.798 billion for the
quarter as against Rs6.040 billion in
the corresponding period last year.
Trade Chronicle - May - June 2015 - Page # 37