Lucky Cement records PKR 12.94 billion profit for the fiscal year ended 30th June 2016
1st September 2016, Karachi : Lucky Cement Limited continued to lead the cement industry in terms of sales volumes and reported net profit of PKR 12.94 billion for the fiscal year ended 30th June 2016 which is 4.1% higher than last year.
Consequently, the earnings per share (EPS) for the fiscal year increased to PKR 40.03 compared to PKR 38.44 reported during last year. Lucky Cement has also declared the final dividend of PKR 10 per share for the fiscal year ended 30th June 2016.
Lucky Cement’s net sales revenue increased by 1.0% to PKR 45.22 billion compared to PKR 44.76 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 current fiscal year registered a growth of 20.5% with 5.33 million tons compared to 4.42 million tons reported last year, whereas export sales volume registered a decline of 32.2% to 1.61 million tons compared to 2.37 million tons reported last year.
On a consolidated basis, Lucky Cement reported net profit of PKR 14.87 billion for the fiscal year ended 30th June 2016 which is 8.1% higher compared to last year. Consequently, consolidated EPS during the fiscal year increased to PKR 45.99 compared to PKR 42.54 reported 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, 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, 50 MW Wind Farm and 10 MW WHR plant (Kiln) at Pezu Plant.
Lucky Cement Limited continues to play a significant role in CSR, and in this regard offered merit based scholarships to deserving students in leading universities. The company also celebrated ‘International Literacy Day’ by donating library books and curriculum books at Schools in Nooriabad and Pezu.
In its efforts to support and provide accessible quality healthcare to the masses, Lucky Cement donated significantly to the Aziz Tabba Foundation, a leading not for profit organization that manages the affairs of Tabba Heart Institute and Tabba Kidney Institute in Pakistan.
