Lucky Cement records PKR 6.25 billion profit for the half year ended December 31st, 2015
22nd February 2016, Karachi : Lucky Cement Limited continued to lead the cement industry in terms of sales volumes and reported net profit of PKR 6.25 billion for the half year ended December 31st, 2015 which is 11.7% higher than the same period last year. Consequently, the earnings per share (EPS) for the half year increased to PKR 19.34 compared to PKR 17.32 reported during the same period last year.
The Company’s net sales revenue increased by 2.0% to PKR 21.84 billion compared to PKR 21.41 billion reported during the same period last year. The increase in net sales revenue was mainly attributable to increase in sales volume.
The local sales volume of the Company during the current half year registered a growth of 19.7% with 2.42 million tons compared to 2.02 million tons reported during the same period last year, whereas export sales volume registered a decline of 27.0% to 0.90 million tons compared to 1.23 million tons for the same period last year.
On a consolidated basis, Lucky Cement reported net profit of PKR 7.17 billion for the half year ended December 31st, 2015 which is 14.36% higher compared to same period last year.
Consequently, consolidated EPS during the half year increased to PKR 22.17 compared to PKR 19.39 reported during the same period last year.
Lucky Cement has decided to set up another 10 MW WHR plant at Pezu Plant which is expected to be completed by December 2016. The Company also reported progress on its key foreign and local projects i.e., fully integrated cement manufacturing plant in the Democratic Republic of Congo, 1 X 660 MW, supercritical, coal based power project, 50 MW Wind Farm, electricity supply to PESCO and WHR at PEZU power plant.
Under the ambit of corporate social responsibility, Lucky Cement continues to take significant initiatives in the areas of health, education and environment and recently celebrated Employees Volunteer Day by renovating a Government Girls School. Whereas, in addition to contributing towards healthcare, Lucky Cement made generous contributions to support grass root sports activities in the country.