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Site update: August 23 2019, at 18:45 PKST
Stock update: August 23 2019.

Recent Financial News in the 'fertilizers' category

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Friday, August 09 2019

Engro Fertilisers’ profit slips 2.5% to Rs3.18b
KARACHI: Engro Fertilisers’ profit inched down 2.5% to Rs3.18 billion in the quarter ended June 30, 2019 owing to higher finance cost and other operating expenses. The company had reported a profit of Rs3.26 billion in the same period of previous year, according to a notification sent to the Pakistan Stock Exchange (PSX) on Thursday. Accordingly, the earnings per share (EPS) of the company declined from Rs2.44 in the previous year to Rs2.38 in the Apr-Jun 2019 quarter. The board of directors recommended an interim cash dividend of Rs5 per share.
Related news categories: business chemical company-news economic-indicators fertilizers misc psx stock-exchanges
Related symbols: efert (news stock)

Wednesday, August 07 2019

Corporate result : FrieslandCampina Engro records Rs238.8m loss
KARACHI: FrieslandCampina Engro Pakistan registered a loss in the half year ended June 30, 2019 due to a notable surge in cost of sales and finance cost amid hike in key interest rate, rupee depreciation and higher inflation. The dairy foods marketing firm booked a loss of Rs238.79 million in Jan-Jun 2019 compared to profit of Rs511.29 million in the same period of previous year. Accordingly, it recorded loss per share of Rs0.31 in the half year under review compared to earnings per share of Rs0.67 in the corresponding period of last year, the company reported in a notification to the Pakistan Stock Exchange (PSX) on Tuesday.
Related news categories: business chemical company-news economic-indicators fertilizers misc psx stock-exchanges
Related symbols: epcl (news stock)

Friday, July 26 2019

Urea sales increase 5% to 2.87m tons in H1
KARACHI: Sales of urea increased 5% to 2.87 million tons in six months ended June 30, 2019 as farmers purchased the fertiliser in advance ahead of likely increase in prices. “Urea offtake depicted growth on the back of pre-buying by dealers/farmers amid expected hike in prices as the government was set to increase gas tariffs with effect from July 2019,” Topline Securities’ analyst Sunny Kumar said in a report on Thursday. Furthermore, timely rainfall across the country – which is beneficial for crops – also pushed up volumetric sales of urea, he said. Urea sales rise 19% in March 2019 Among domestic producers, sales of Engro Fertilisers, however, dropped 10% to 897,000 tons in Jan-June 2019 compared to 994,000 tons in the corresponding period of last year.
Related news categories: business chemical economic-indicators fertilizers misc

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