Fauji Fertiliser clarification

In a news article titled ‘Fauji Fertiliser’s profit drops 18% to Rs5.5b’, published in The Express Tribune on July 28, 2020, the report had stated that on a half yearly basis, the company recorded a profit of Rs9.8 billion, down 14% compared with Rs8.6 billion in the first six months of 2019. We would like to clarify that the earlier report erroneously mentioned “down” when the profit was up 14% during the half year period. The numbers are based on the consolidated financial statement of the company. FFC issued a press release on July 28, 2020 reporting a profitability of Rs9.14 billion translating into earnings per share of Rs7.18.

Published in The Express Tribune, August 11^th, 2020.

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