Lucky Cement records PKR 13.69 billion profit for the fiscal year ended June 30, 2017
31st July 2017, Karachi Lucky Cement Limited reported net profit of PKR 13.69 billion for the fiscal year ended June 30, 2017 which is 5.8% higher as compared to last year. Consequently, the earnings per share (EPS) for the fiscal year increased to PKR 42.34 compared to PKR 40.03 reported during last year. The Company declared final dividend of PKR 12/- per share for the fiscal year ended June 30, 2017.
The Company’s net sales revenue increased by 1.2% to PKR 45.69 billion compared to PKR 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% 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 PKR 16.22 billion for the fiscal year ended June 30, 2017 which is 9.1% higher as compared to last year. Consequently, consolidated EPS during the year increased to PKR 50.18 compared to PKR 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. Under the domain of empowering women in the country, Lucky Cement continued its support for two leading Government girls’ schools in Karachi in collaboration with Zindagi Trust.
About the Company
Lucky Cement Limited (LCL) is the flagship company of the Yunus Brothers Group, which has a solid history of exceptional growth performance since its inception in 1993. LCL is one of the largest producers and leading exporters of quality cement in Pakistan, with a production capacity of 7.75 million tons per annum. The Company is listed on the Pakistan and London stock exchange.
LCL’s manufacturing plants are strategically located in Northern and Southern regions of the country and is the only cement company to have its own loose cement export terminal at Karachi port with storage capacity of 24,000 tons.
Lucky Cement is an ISO 9001:2008 and 14001:2004 certified company and possesses many other international certifications including Bureau of Indian Standards, Sri Lankan Standard Institute, Standards Organization of Nigeria, Kenya Bureau of Standards and South African Bureau of Standards.