Lahore July 22 2022: Fauji Foods Limited reported loss of PKR 1,253 million during the first half 2022 against loss of PKR 758 million in the same period last year, according to company filling to the exchange.
Beside, Board of Directors of the company approved increased in paid up capital to PKR 28 billion from PKR 18 billion.
Company reported gross profit of PKR 178 million against gross profit of PKR 545 million in the last year as sales of the company grew by six percent.
FFL share price decline 2 paisa or 0.32 percent to trade at PKR 6.27 per share on 22nd July 2022.
The deterioration in company’s performance came on the back of increasing cost due to higher commodity prices, higher marketing expense and increased admin cost. Finance cost of the company reduced to PKR 565 million from PKR 632 million despite higher policy rate.
Fauji Foods Limited was incorporated in Pakistan on 26 September 1966 as a Public Company. The company is the subsidiary of Fauji Fertilizer bin Qasim Limited.It is principally engaged in processing and sale of toned milk, milk powder, fruit juices , allied dairy and food products.