Karachi: FrieslandCampina Engro Pakistan Limited reported its financial results for the half year ended June 30, 2024, today. The Company's board of directors convened on August 15, 2024, in Karachi to review and approve the un-audited financial results. The board declared no final cash dividend and did not issue any bonus or right shares.

According to information available from the Pakistan Stock Exchange (PSX), for the first half of 2024, FrieslandCampina Engro Pakistan Limited generated a net revenue from contracts with customers amounting to 55.02 billion, compared to 47.01 billion in the corresponding period of 2023. The cost of sales rose to 45.55 billion from 38.84 billion year-over-year, resulting in a gross profit of 9.47 billion, an increase from 8.17 billion in the previous year.

The company's operating expenses included distribution and marketing expenses of 4.52 billion and administrative expenses of 897.26 million. Finance costs escalated to 1.93 billion, up from 1.32 billion in the first half of 2023. The overall operating profit stood at 4.00 billion, slightly up from 3.87 billion in the prior year.

Profit before taxation was reported at 2.07 billion, a decrease from 2.55 billion recorded last year. After accounting for taxation of 822.05 million, the profit for the period was 1.25 billion, slightly lower than the 1.33 billion earned in the first half of 2023. The earnings per share (EPS) for the period were reported at 1.63, compared to 1.73 in the same period last year.

The unappropriated profit carried forward by FrieslandCampina Engro Pakistan amounted to 7.19 billion, maintaining a stable financial position to support future operational and strategic needs.