Leading Pakistani cement producer Lucky Cement Limited recorded a 17.2% y/y increase in profit after tax for the first nine months of the current fiscal year, which stood at Rs.8.19 billion. Earnings per share rose to Rs.25.31, compared to Rs.21.59 in the corresponding period last year. Net sales revenue improved by 13.4% y/y to Rs.31.5 billion, compared to Rs.27.7 billion in the first nine months of the previous year. As a result of this, gross profit increased by 12% during the reporting period.
Local sales volumes during the reporting period saw an increase of 7.7% y/y, rising to 2.9 million t, compared to 2.7 million t in the same period a year earlier. Export sales volumes registered a growth of 11.8% y/y to 1.9 million t from 1.7 million t in the same period last year.
Cement prices on the up
According to local reports, Pakistani retailers in Karachi have increased cement prices by Rs.5 per 50 kg bag to Rs.220 – Rs.235 per bag. The latest increase came after a gap of six to eight weeks; the previous increase of Rs.5 per bag was made in March 2014. The price of Lucky Cement, Pakland Cement and Power Cement has reportedly increased to approximately Rs.520 per bag and the price of Falcon Cement rose to Rs.535 per bag.
The increase in the price, which has been passed on to end consumers, was made following a rise in the price from cement manufacturers. Analysts stated that the increase in construction work in Pakistan has provided an opportunity for manufacturers to upwardly revise their prices.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/28042014/rise_in_income_for_lucky_cement_87/