Pakistan Fertilizers: Companies Profits up 48% YoY during 2Q2019 – By Topline Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Pakistan Fertilizer Sector posted cumulative growth of 48% YoY in their earnings during 2Q2019 due to 1) increase in gross profit margin by 2% YoY, 2) lower selling &amp; distribution cost by 13% YoY, and 3) increase in other operating income by 31% YoY. Urea sales of four major companies down by 9% YoY, whereas, overall sector volumes witnessed a growth of 3% YoY to 1.5mn tons in urea sales due to resumption in operation by Agritech and FatimaFert (~181k additional tons). DAP offtake of three companies (EFERT, FFBL and FFC) depicted growth of 23%, while overall sector witnessed a growth of 44% YoY to 457k tons.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Our sample size includes four major listed c...