Lucky Cement records Rs13.69bn profit

KARACHI: Lucky Cement Ltd reported net profit of Rs 13.69 billion for the fiscal year ended June 30, 2017 which is 5.8 percent higher as compared to last year.

Consequently, the earnings per share (EPS) for the fiscal year increased to Rs 42.34 compared to Rs 40.03 reported during last year.

The Company declared final dividend of Rs 12 per share for the fiscal year ended June 30, 2017.

The Company's net sales revenue increased by 1.2 percent to Rs 45.69 billion compared to Rs 45.14 billion reported 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 fiscal year registered a growth of 13.9 percent to 6.07 million tons compared to 5.33 million tons reported last year, whereas export sales volume registered a decline of 32.7% to 1.08 million tons compared to 1.61 million tons reported last year.

On a consolidated basis, Lucky Cement reported net profit of Rs 16.22 billion for the fiscal year ended June 30, 2017 which is 9.1 percent higher as compared to last year.

Consequently, consolidated EPS during the year increased to Rs 50.18 compared to Rs 45.99 reported last year.

Lucky Cement also reported progress on its key local and international projects i.e. brown field expansion (installation of new production line) at Karachi Plant, fully integrated green field Cement Manufacturing Plant in Punjab province, investment in automobile Manufacturing plant under license from KIA Motors Corporation, brown field expansion in Cement Grinding unit in Republic of Iraq, 1 X 660 MW, supercritical coal based power project at Port Qasim.

Lucky Cement remains committed toward value-creation for the society in which it operates. In this regard, the Company extended numerous scholarships to deserving students for various leading universities in Pakistan.