Lucky Cement records highest ever profit after tax

KARACHI: Lucky Cement Limited recorded the highest ever profit after tax of Rs. 9.714 billion for the year ending 30th June 2013, which is 43.2% higher than last year’s net profit of Rs. 6.782 billion. The company announced a cash dividend of Rs. 8 per share for the year ended on June 30 2013 as its Earnings Per Share EPS soared to Rs. 30.04 per share versus Rs. 20.97 per share achieved last year.

Lucky Cement’s gross profit swelled by 31.44% during the year to Rs. 16.721 billion as compared to Rs. 12.721 billion reported last year. Higher sales volume coupled with better retention prices attributed to the record breaking profit declared.

The local sales volume during the year under review registered a growth of 1.3% that rose to 3.77 million tons as compared to 3.72 million tons last year. The export sales volume of Lucky Cement also registered a growth of 1.7% from 2.25 million tons last year to 2.29 million tons during the financial year ending 30 June 2013.

Lucky Cement announced various projects over the year for further enhancement of its product quality and penetration in the export markets, as well as for the sustainability of its operations which included two new European origin vertical cement mills at the Karachi Plant and plans to set up an Alternate Energy TDF Plant at Pezu.

Lucky Cement reported progress on its joint venture investment in a Cement plant in DR Congo where financial closure is expected by December 2013. The joint venture project of a cement grinding facility in Iraq is also expected to be completed by the end of October 2013.

It may be noted that this year has not only been a historic year in terms of profits for Lucky Cement, but also earlier in the year Lucky Cement became the only organization in Pakistan to receive an A+ level check on their Sustainability Report for the year 2012 from GRI Netherlands.

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