Year ended June 30, 2024: LCI announces 330pc final cash dividend

KARACHI: Following the meeting of the Board of Directors, Lucky Core Industries Limited (the “Company”) announced its financial results for the year ended June 30, 2024.

Financial Highlights

The Company reported strong growth across all key metrics. On a consolidated basis (including the result of the Company’s subsidiary Lucky Core PowerGen Limited), the Company reported a Net Turnover of Rs 120,635 million for the year under review, representing a 10% increase over the same period last year (SPLY).

The consolidated Operating Result stood at Rs 17,254 million, which is higher by 17% in comparison to the SPLY. On a consolidated basis, the Profit After Tax (PAT) for the year under review at Rs 11,163 million is 37% lower than the SPLY, whereas Earning Per Share (EPS) attributable to the owners of the holding company at Rs 120.73 is 37% lower than the SPLY.

Excluding the impact of the one-off gain from the partial divestment of shares of NutriCo Morinaga (Private) Limited in the SPLY, PAT and EPS attributed to the owners of the holding company would have been higher by 37% and 41% respectively.

On a standalone basis, the PAT and EPS for the year under review at PKR 11,140million and PKR 120.62respectively, is 19% lower than the SPLY.

Excluding the impact of a one-off gain from the partial divestment of shares of NutriCo Morinaga (Private) Limited in the SPLY, PAT and EPS would have been higher by 41% mainly on account of higher Operating Results and Other Income derived from short-term investments.

The Board of Directors has recommended a Final Cash Dividend in respect of the financial year ended June 30, 2024, at a rate of 330% (i.e. PKR 33/- per share of Rs 10 each). This is in addition to the 270% Interim Cash Dividend (i.e. Rs 27/- per share) already paid.

Following the announcements of results, LCI’s Chief Executive Asif Jooma said, “Despite navigating a challenging economic environment this fiscal year, Lucky Core Industries Limited has demonstrated remarkable resilience and growth.

Our steadfast focus on excellence and forward-thinking strategies has driven significant achievements across our diverse business segments, reinforcing our mission of ‘Improving Lives.’ As we move forward, we remain dedicated to creating value for our stakeholders and shaping a prosperous future.”

Copyright Business Recorder, 2024