Chairman Fauji Foods Lt Gen (retd) Khalid Nawaz inaugurated the newly revamped Fauji Foods Limited’s dairy processing facility, which is the first of its kind in Pakistan. PHOTO: EXPRESS/ File
The result was better than street expectations, stated Topline Securities.
Fauji Foods’ share price increased from Rs36.21 to Rs37.58 with over 7.5 million shares changing hands on Monday. This was primarily on the back of improvement in margins, which were up from 0.4% in 1Q2017 to 8.9% in 1Q2018.
Sales for the company stood at Rs1.95 billion compared to sales of Rs1.27 billion recorded for the quarter ended on March 31, 2017, showing an increase of 53%.
Other income declined slightly to Rs6 million, down from Rs6.5 million in the same quarter of the previous year. Finance cost increased from Rs76.3 million to Rs135.2 million in the three-month period of 2018.
Published in The Express Tribune, April 24th, 2018.
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