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Lucky Cement posts profit of 1.9bn
Feb, 18 2009
(Pakistan) -- Lucky Cement, a 21,000 Tons Per Day, dry process Cement Plant in Pakistan, has announced its results for the first half of fiscal year 2008-09 (1HFY09).
The company has posted profits of Rs1.9 billion with Earning Per Share (EPS) of Rs 5.99 versus Rs1.4 billion profits with EPS of Rs 4.17 in the same period of pervious year, showing a considerable growth of 44 per cent.
Gross profit of the company increased by a handsome 152 per cent to Rs 4.9 billion versus Rs1.9 billion in 1HFY08. Moreover, gross profit margins of the company in 1HFY09 went up to 39 per cent from 27 per cent last year.
The gross profit was attributed to better cement prices in the local market as well as high rupee-based export sales amid rupee depreciation.
In 1HFY09 the company’s distribution and administrative expenses took a significant jump to Rs1,184 million from Rs464 million in 1HFY08 - up by 155 per cent. Owing to foreign exchange losses, the company’s other charges rose by 264 per cent to Rs662 million.
In 1HFY09, local cement dispatches of the company fell by 19 per cent to 1.2 million tons while exports increased to reach 1.4 million tons, up by 23 per cent.
Rashmi Kalia [ARI-C News]
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