Lucky Cement records Rs9.61bn profit for nine months
Karachi, April 26, 2016 (PPI-OT):Lucky Cement Limited continued to lead the cement industry in terms of sales volumes and reported net profit of PKR 9.61 billion for the nine months ended March 31st, 2016 which is 3.3% higher than the same period last year. Consequently, the earnings per share (EPS) for the nine months increased to PKR 29.73 compared to PKR 28.77 reported during the same period last year.
The Company’s net sales revenue increased by 1.0% to PKR 33.49 billion compared to PKR 33.15 billion reported during the same period last year. The increase in net sales revenue was mainly attributable to increase in sales volumes.
The local sales volume of the Company during the current nine months period registered a growth of 21.9% with 3.88 million tons compared to 3.18 million tons reported during the same period last year, whereas export sales volume registered a decline of 33.7% to 1.23 million tons compared to 1.85 million tons for the same period last year.
On a consolidated basis, Lucky Cement reported net profit of PKR 11.03 billion for the nine months ended March 31st, 2016 which is 7.1% higher compared to same period last year. Consequently, consolidated EPS during the nine months period increased to PKR 34.11 compared to PKR 31.84 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, Cement Plant investment in Punjab, 1 X 660 MW, supercritical, coal based power project, 50 MW Wind Farm, 10 MW WHR plant at Pezu Plant and electricity supply to PESCO.
Under the ambit of corporate social responsibility, Lucky Cement continued to take significant initiatives in the areas of health, education and environment and recently collaborated with Pakistan Welfare Association for Blind (PWAB) and donated school books for sight impaired children for their upcoming semester.
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