Lucky Cement records Rs. 9.30 billion profit for nine months ended 31st March, 2015
23rd April 2015, Karachi : Lucky Cement Limited continued to lead the cement industry with a significant rise in its nine months’ net profit for the year 2014-15. The Company recorded net profit for the nine months ended 31st March 2015 of Rs. 9.30 billion which is 13.7% higher than the net profit of the corresponding period last year.
The earnings per share (EPS) for the period increased to Rs. 28.77 against Rs. 25.31 for the corresponding period last year.
The Company’s gross profit increased by 7.2% during the nine months as its net sales revenue improved by 5.38% to Rs.33.15 billion against Rs. 31.45 billion for the corresponding period last year. The increase in net sales revenue was contributed by 4.03% increase in volume and 1.35% increase in net retention.
The local sales volume for the Company during the nine months registered a growth of 6.85% with 3.18 million tons compared to 2.97 million tons of same period last year, whereas export sales volume registered a decline of 0.48% with 1.85 million tons as compared to 1.86 million tons for the same period last year.
Lucky Cement also reported successful completion of Installation of Vertical Grinding Mills and Waste Heat Recovery (WHR) Plant at its Karachi Plant and also reported progress on other key foreign investments and local projects i.e., fully integrated cement manufacturing plant in the Democratic Republic of Congo, grinding unit in Iraq, 1 X 660 MW, supercritical, coal based power project, 50 MW wind Farm, electricity supply to PESCO and WHR Plant at PEZU.
As a responsible Corporate, Lucky Cement continued with its philanthropic legacy and during the period under review; extended its scholarship program to a leading business school and provided further support to patronize women literacy at an underprivileged school in Pakistan.
It is pertinent to mention that Lucky Cement was awarded the Top Exporter Award for its innovations in exports by the Trade Development Authority of Pakistan, and the company also received the Karachi Stock Exchange Top Companies Award Gold Medal from the Prime Minister of Pakistan during the period under review.