LAHORE: Fatima Fertilizer Limited announced its nine-month CY14 results on Tuesday, reporting earnings of Rs6.43 billion (earnings per share of Rs3.06), up 11 percent against Rs5.80 billion (EPS of Rs2.76) earned during the same period last year.
Improvement in the company’s profitability was primarily due to higher fertiliser prices, volumetric growth in fertiliser off-take and a decline in financial charges.
Furthermore, despite an increase in fuel stock prices and maintenance expense, the firm was able to secure higher gross margins as compared to last year.
During the nine months of CY14, FATIMA’s revenues advanced by six percent on year-on-year basis to Rs25.86 billion, despite floods in lower Punjab and upper Sindh during September, FATIMA was able market more of its fertiliser between Jan-September as compared to last year.
Total fertiliser sales stood at 823,000 during the period under review, increasing by one percent Y-o-Y against 819,000 during the same period last year.
On a Q-o-Q basis, the company’s volumetric sales increased by 10 percent to 315,000MT, which translated into 20 percent Y-o-Y growth in revenues to Rs10.25 billion during 3Q CY14.
Meanwhile, the United Bank Limited (UBL) has announced its financial results for the nine-month and quarter ended September 30, declaring profits for the nine-month period at Rs17.17 billion (earnings per share of Rs13.94), up 22 percent against Rs14.03 billion (EPS of Rs11.15) in the corresponding period last year, a bank statement said on Tuesday.
The bank also announced a third interim cash dividend of Rs2.50 per share, which is in addition to the interim dividends already paid at Rs5 per share.
During the quarter, the bank announced earnings of Rs5.85 billion (EPS of Rs4.71) against Rs4.79 billion (EPS of Rs3.91) in the same period last year.
The bank’s total core income was recorded at Rs33.58 billion during the nine-month period (January-September) as compared to Rs28.41 billion last year. The bank’s Rs1.18 billion loans were written-off directly, which reduced the core income to Rs32.38 billion. During the period under review, non markup / interest income of the UBL increased to Rs15.97 billion from Rs14.32 billion in the corresponding period last year.
