Lucky Cement records Rs7.04b profit

Staff Reporter

Karachi

Lucky Cement Limited reported net profit of PKR 7.04 billion for the half year ended December 31, 2016 which is 12.5% higher than the same period last year. Consequently, the earnings per share (EPS) for the half year increased to PKR 21.76 compared to PKR 19.34 reported during the same period last year. The Company’s net sales revenue increased by 7.5% to PKR 23.44 billion compared to PKR 21.81 billion reported during the same period last year.
The increase in net sales revenue was mainly attributable to increase in sales volume. The local sales volume of the Company during the half year registered a growth of 23.2% to 2.98 million tons compared to 2.42 million tons reported same period last year, whereas export sales volume registered a decline of 16.3% to 0.75 million tons compared to 0.90 million tons for the same period last year.
On a consolidated basis, Lucky Cement reported net profit of PKR 8.12 billion for the half year ended December 31, 2016 which is 13.3% higher compared to the same period last year. Consequently, consolidated EPS during the half year increased to PKR 25.12 compared to PKR 22.17 reported during the same period last year. Lucky Cement also reported progress on its key foreign and local projects i.e., fully integrated Cement Manufacturing Plant in the Democratic Republic of Congo, brown field expansion in Cement Grinding unit in Republic of Iraq, fully integrated green field Cement Manufacturing Plant in Punjab province, brown field expansion (installation of new production line) at Karachi Plant, 1 X 660 MW, supercritical, coal based power project at Port Qasim and 10 MW WHR plant (Kiln) at Pezu Plant.
Lucky Cement continued to play significant role under the ambit of corporate social responsibility. In this regard the Company extended numerous scholarships for various leading universities in Pakistan, including a scholarship fund for The Citizens Foundation schools’ graduate students pursuing higher education. Furthermore, Lucky Cement continued to extend its support to Aziz Tabba Foundation, CPLC and other not for profit organizations. Under the domain of empowering women in the country Lucky Cement recently adopted two leading Government girls’ schools in Karachi in collaboration with Zindagi Trust.

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