Lucky Cement has recorded a net profit of Rs.6.78 billion for the full year ending on 30 June 2012, 70.82% higher than last year’s Rs.3.97 billion. The company focused primarily on domestic sales, which increased by 7% y/y to 3.72 million t. As a result, however, export sales fell by 4% y/y to 2.25 million t. Gross profit grew by 46.03% y/y from Rs.26.018 billion to Rs.33.323 billion. Financing costs were reduced from Rs.517.79 million in 2011 to Rs.253.23.
Lucky Cement acquired a 75.81% stake in ICI Pakistan in conjunction with other members of the Yunus Brothers Group. The investment forms part of the Group’s aim to diversify and increase its presence within the country. Investments were also made in new alternative fuel plants and a packing facility in Karachi. The firm also stated that headway was being made at its joint venture cement plant in the Democratic Republic of Congo and a grinding facility in Iraq.
Adapted from press release by Louise Fordham.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/17082012/cement_lucky_pakistan_sales_results/