Fauji Fertilizer Company Limited’s financial results for the year ended December 31, 2011

Karachi: 1. We have to inform you that the Board of Directors of our Company in their Meeting held on Monday, January 30, 2012 at 1000 hours at FFC Head Office, Rawalpindi recommended the following:-

a. Cash Dividend

Final Cash Dividend for the year ended December 31, 2011 cit Rs. 5.25 per share i.e. 52.50%. This is in addition to Interim Dividends already paid at Rs. 14.75 per share i.e. 200%.

b. Bonus Shares

It has been recommended by the Board of Directors to issue Bonus Shares in proportion of 50 shares for every 100 shares held i.e. 50%.

2. Certificate from Auditors in the light of SRO 110(1) 96 and financial results for the year ended December 31, 2011 are attached.

3. Book Closure. The Share Transfer Books of the Company will be closed from March 01, 2012 to March 07, 2012 (both days inclusive). Transfers received at the THK Associate (Private) Limited, Ground Floor, State Life Building – 3, Dr. Zia-ud-Din Ahmed Road. Karachi – 75530 at the close of business on February 29, 2012 will be treated in time for entitlement of Final Dividend to the transferees, if approved by the Shareholders.

4. The Board has appointed Lt Gen Muhammad Mustafa Khan, HI(M) (Retired) as Director on the Board of FFC. He has also been elected as Chairman of the Board of Directors of the Company.

5. We will be sending you 300 copies of printed accounts for distribution amongst the members of the Exchange in due course of time.

Further to you request we confirm that the free reserves of Fauji Fertilizer Company Limited (“the Company”) according to its audited financial statements for the year ended 31 December 2011 will be more than 25 percent of the increased paid-up capital of’ the Company after the proposed issue of 424,079,416 bonus shares of Rs. 10 each. The term free reserves has been deemed to have the meaning given to it in Rule 5 of the Companies (issue of Capital) Rules, 1996.

Profit and Loss Account for the Year Ended December 31, 2011

 

2011

2010

(Rupees ‘000)

Sales 55,221,168 44,874,359
Cost of sales 20,871,759 25,310,406
———- ———-
Gross profit 34,349,409 19,563,953
Distribution cost 4,372,151 3,944,473
———- ———-
29,977,258 15,619,480
Finance cost 785,825 1,086,741
Other expenses 2,654,881 1,376,000
———- ———-
26,536,552 13,156,739
Other income 6,629,501 3,153,110
———- ———-
Net Profit before Taxation 33,166,053 16,309,849
Provision for taxation 10,674,000 5,281,000
———- ———-
Net Profit after Taxation 22,492,053 11,028,849
———- ———-
Restated
Earnings per share – basic and diluted (Rupees) 26.52 13.00

 

 

For more information, Contact
Fauji Fertilizer Company Limited
93-Harley Street, Rawalpindi-Pakistan
P.O. Box: 253
TELEX: 54310 FFCPK
Tel: (051) 9272307-15, 9272318-19, 9272327
Fax: (051) 92772346, 9272519, 9272316
Website: www.ffc.com.pk
E-mail: ffcrwp@ffc.com.pk

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