26^thApril 2018, Karachi: Lucky Cement Limited reported net profit of PKR 9.80 billion for the nine months ended March 31, 2018 which is 6.0% lower as compared to the same period last year. Consequently, the earnings per share (EPS) for the nine months was recorded at PKR 30.31 compared to PKR 32.23 reported during the same period last year.
The Company’s gross sales revenue increased by 7.1% to PKR 50.63 billion compared to PKR 47.29 billion reported during the same period last year. The increase in revenue was mainly attributable to higher Federal Excise Duty and Sales Tax.
The local cement sales volume of the Company during the nine months registered a growth of 16.9% (North 19.7% and South 13.7%) to reach 5.04 million tons compared to 4.31 million tons reported during the same period last year, whereas, local clinker sales volumes declined by 79.5% to 0.06 million tons during the current nine months as compared to 0.29 million tons in the same period last year, resulting in the overall local sales growth of 10.9% to reach 5.10 million tons during the nine months compared to 4.60 million tons during the same period last year; while export sales volume registered a decline of 20.3% to 0.74 million tons compared to 0.93 million tons reported last year.
On a consolidated basis, Lucky Cement reported a net profit of PKR 11.94 billion for the nine months ended March 31, 2018 which is 1.0% lower as compared to the same period last year. Consequently, consolidated EPS attributable to the Company during the nine months decreased to PKR 36.91 compared to PKR 37.27 reported during the same period last year.
Lucky Cement also made announcements for brownfield expansion for cement production of 2.60 million tons per annum at its Pezu Plant worth PKR 17.50 billion and a greenfield project for producing 1.20 million tons of clinker at Samawah, Iraq worth USD 109 million. In addition, the Company also reported progress on investments in automobile manufacturing plant under license from KIA Motors Corporation and 1 X 660 MW supercritical coal based power project at Port Qasim. Lucky Cement remains committed towards 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 and abroad. Keeping in view the importance and impact of women empowerment in Pakistan, Lucky Cement continued its support for two leading Government girls’ schools in Karachi in collaboration with Zindagi Trust. The company also donated generously towards the cause of community development by supporting CPLC. Moreover, Lucky Cement played a significant role in contributing towards the community in connection with health-based initiatives and is also an active supporter of Special Olympics Pakistan, Pakistan Welfare Association for the Blind and such other welfare organizations