Muhammad Sarfraz Abbasi

Corporate results: Lucky Cement profits  double to Rs3b By  Our Correspondent Published: January 31, 2012 Net profit rose 107% to Rs3.02 billion during July to December 2011 against Rs1.46 billion in the same period a year back. KARACHI:  Lucky Cement has managed to double its half-yearly profits despite production levels remaining virtually unchanged. Net profit rose 107% to Rs3.02 billion during July to December 2011 against Rs1.46 billion in the same period a year back, according to a notice sent to the Karachi Stock Exchange on Tuesday. “Earnings growth resulted from a 24% uptick in cement prices and the company’s shift in focus to the local market,” said AKD Securities analyst Misbah Iqbal. Consequently, gross margin increased to 38% in the period under review against the preceding year’s 33%. The country’s second largest cement manufacturer has gradually increased its local share rather than exports as all-time high local cement pric...

Corporate results: Fauji Fertilizer profit up two-fold By  Our Correspondent Published: January 31, 2012 The company’s urea sales fell 3% to 2.4 million tons, however, 54% surge in urea prices did the trick. KARACHI:  Despite core business of the fertiliser manufacturer showing a drop in 2011, Fauji Fertilizer Company (FFC) beat all expectations and announced a two-fold increase in net profit to Rs22.5 billion. The company’s urea sales fell 3% to 2.4 million tons, however, 54% surge in urea prices did the trick, says Summit Capital analyst Muhammad Sarfraz Abbasi. Hence, gross margin grew 19% to a healthy level of 62.2% against the preceding year’s 44%. The result is at least 9% higher than market expectation as analysts expected the net profit to stand, on average, Rs20.5 billion. In the final three months of the year, sales plummeted a massive 26% which led to a slowdown in net sales. However, they still managed to grow by 23% to Rs55.2 billi...

Lucky cement 1HFY12 profits double 1/30/2012 2:55:16 PM KARACHI: The Board of Directors’ of Lucky Cement Limited ( LUCK ) has just announced 1HFY12 financial performance of the company on Monday. In line with the expectations, the company has reported more than double profit in 1HFY12 as its earnings increased by a massive 107 percent YoY to Profit After Tax (PAT) of Rs 3.02 billion translating it into an EPS of Rs 9.33 as against the PAT of Rs 1.46 billion in the corresponding period last year. According to Sarfaraz Abbasi, research analysts at Summit Capital, “The main reason behind the substantial boost in earnings can be attributed to 28 percent YoY jump in monetary sales to Rs 15.37 billion in 1HFY12 as against the sales of Rs 12.03 billion in same period last year. “ The stunning boost in monetary  sales  was mainly because of augment in the volumetric sales and higher retention prices. Volumetric sales grew by 2 percent YoY to 2.87 million tons as agai...

Cement Sector: LUCK earnings set to fly higher (Summit Capital) By: Muhammad Sarfraz Abbasi, Summit Capital (Pvt.) Limited Earnings are expected to fly higher by 112% to PKR3.10bn (EPS of PKR9.59) in 1HFY12. Total volumetric sales are expected to increase by 4% YoY mainly because of growth in local sales. Monetary sales are anticipated to post a handsome rise of 28% YoY to PKR15.40bn in 1HFY12. Financial charges are likely to witness a sharp drop of 51% YoY to PKR144m in 1HFY12. Ongoing work on mega projects, higher retention prices, better volumes and decline in coal prices is expected to bode well for the company and sector. LUCK expected to earn more than double profit … The Board of Directors’ of Lucky Cement Limited (LUCK) is scheduled to announce 1HFY12 financial performance of the company on 30th January ‘12. We expect LUCK to report more than double profit in 1HFY12 as the company is likely to report 112% growth in its Profit After Tax (PAT) to PKR3....

Honda cars posts loss of Rs 143mln 1/24/2012 3:00:40 PM KARACHI: Honda Atlas Cars (Pakistan) Limited (HCAR) has posted Loss After Tax (LAT) of Rs 143 million translating into a Loss Per Share (LPS) of Rs 1.00 as against the LAT of Rs 276 million and LPS of Rs 1.93 in the corresponding period last year due to decline in production and volumetric sales of the company. The company has just announced its 9MFY12 (year end March) results on Tuesday. During the 9MFY12 total production of the company declined by 16 percent YoY to 9,900 units in comparison of 11,728 units produced by the company in the same period last year, thus, the company has witnessed 9 percent YoY declined in its volumetric sales to 10,233 units in comparison of 11,185 units in 9MFY11. According to the Sarfaraz Abbasi, research analyst at Summit Capital, “the biggest decline was experience by the sales of HONDA CIVIC whose sales declined by a substantial 19 percent YoY to 3,840 units in 9MFY 12 wh...