Lucky Cement records consolidated earnings of Rs11.33b

2071

Staff Reporter

Karachi

On a consolidated basis, Lucky Cement Limited reported net profit after tax of PKR 11.33 billion after taking out PKR 1.02 billion attributable to non-controlling interests for the fiscal year ended June 30, 2019, which translates into earnings per share (EPS) of PKR 35.03 / share as compared to PKR 45.83 / share reported last year.
The Board of Directors of the Company proposed a final cash dividend of PKR 6.50 per share subject to approval of shareholders in the upcoming Annual General Meeting scheduled to be held on September 27, 2019. Further, on a consolidated basis, the Company achieved gross turnover of PKR 136.59 billion which is 9.6% higher as compared to last year’s turnover of PKR 124.68 billion. On a standalone basis Company’s overall sales volume declined by 1.8% to reach 7.67 million tons during the current financial year.
The local cement sales volume registered a decline of 11.7% to come to 5.85 million tons in comparison to 6.63 million tons last year and the export sales volumes of the Company improved by 60.9% to reach 1.82 million tons as compared to 1.13 million tons during last year. Further, with regards to Company’s standalone financial performance, the gross sales revenue increased by 0.3% to PKR 67.55 billion compared to PKR 67.38 billion reported during last year. The increase in revenue was mainly due to higher export volumes for clinker.

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