Skip to main content

Corporate results: Lucky Cement’s lucky streak continues - September 18, 2013

The Express Tribune

Corporate results: Lucky Cement’s lucky streak continues

Published: September 18, 2013
Lucky announced a cash dividend of Rs8 per share for the financial year as earnings per share soared to Rs30.04 versus Rs20.97 in fiscal 2012. PHOTO: FILE
KARACHI: 
Lucky Cement – the country’s largest cement manufacturer– recorded its highest-ever profit, by registering earnings of Rs9.714 billion for the fiscal year 2012-13. This entailed a jump of 43% compared to previous year’s profit of Rs6.782 billion.
According to a notice sent to the Karachi Stock Exchange, Lucky announced a cash dividend of Rs8 per share for the financial year as earnings per share soared to Rs30.04 versus Rs20.97 in fiscal 2012.
Despite volumetric variance of 1%, top-line of the company grew 13% to Rs37.8 billion against Rs33.3 billion in 2012 due to a sharp increase in cement prices.
The company successfully increased its export market share to 27.3% during the year compared to 26.3% in the previous year. On the local front, Lucky Cement’s market share fell half a
percentage point to 15%.
Sales volume in the local market registered a growth of 1.3%, rising to 3.77 million tons compared to 3.72 million tons last year. Exports also registered a growth of 1.7% from 2.25 million tons in 2012 to 2.29 million tons during the financial year ending June 30, 2013.
Lucky’s revenue per ton also rose 12% to Rs6,240 against Rs5,578 in the last fiscal year. The cost per bag, on the other hand, inched up 1%, Topline Securities reported on Tuesday.
Gross profit swelled 31.44% during the year to Rs16.721 billion as compared to Rs12.721 billion reported last year, reflecting a gross profit margin of 44% in the year, up by six percentage points.
Lucky Cement’s excellent performance was attributable to strong sales, driven by exorbitant cement prices and restricted cost of sales due to falling coal prices in the international market. While hefty contribution from the other income and lower financial charges due to lower interest rates throughout the year and repayment of loans also supported the earnings of the company, Summit Research commented on the company result.
Lucky Cement reported progress on its joint-venture investment in a cement plant in the Democratic Republic of the Congo, where financial closure is expected by December. The joint-venture project of a cement grinding facility in Iraq was also expected to be completed by the end of October.
The company managed to realise other income at Rs248 million during the current year against Rs5 million during the same period of the previous year.
Lucky Cement has placed orders for two vertical grinding mills to be installed at its Karachi plant. In addition to this, the company is planning to introduce tyre derived fuel (TDF) at the Pezu plant in Khyber-Pakhtunkhwa to replace coal. Furthermore, the company is in negotiations with Peshawar Electric Supply Company to supply surplus power to the company.
Published in The Express Tribune, September 18th,  2013.

Comments

Post a Comment

Popular posts from this blog

Dark days for fertiliser industry continue

Dark days for fertiliser industry continue Published: December 28, 2011 Sales of urea, the most widely used fertiliser, declined by 5% in the period from January to November 2011 due to persistent gas outages faced by manufacturers which has led to a drop in production levels. The four plants which are on the Sui Northern Gas Pipelines Limited network remained the main victims of the chaotic situation due to gas shortage. The dark days are expected to continue as the government in a new gas load management plan has agreed to cut-off gas supply to the four plants on the SNGPL-based pipeline. The four plants include Engro Corporation’s Enven, Pak-Arab Fertilizer, Agritech Fertilizer and Dawood Hercules Fertilizer. Similarly, another fertilizer, di-ammonia phosphate (DAP) witnessed a decline in sales by 18% to 1.01 million tons on a yearly basis against 1.24 million tons in the same period last year, according to data released by National Fertiliser Development Centre on Tuesday....
Post a Comment
Read more

Corporate results: Pak Suzuki posts lower than expected results

                           Corporate results: Pak Suzuki posts lower than expected results By  Farhan Zaheer Published: October 31, 2013 Pak Suzuki sold 59,292 cars in 9MCY13 compared to 69,589 in the same period of last year, down by a significant 15% YoY. PHOTO: FILE KARACHI:  Pak Suzuki Motor Company – the biggest automobile manufacturer by market share in Pakistan – has posted a handsome earning of Rs371 million in the July-September quarter, against a loss of Rs193 million in the corresponding period last year. The company recorded per share earnings of Rs4.51 in the third quarter of 2013 against a loss per share of Rs2.35 last year. In comparison to the third quarter of previous year, the company’s gross profit increased significantly to Rs890 million against a negative growth of Rs49 million. However analysts had projected better results, blaming the ...
Post a Comment
Read more

Car sales surge by 20.5 per cent

Car sales surge by 20.5 per cent Aamir Shafaat Khan   | Business |  From the Newspaper (13 hours ago) Today Nauman Khan of Top Line Securities said December 2011 sales declined as buyers preferred to defer orders due to year end phenomenon. - File photo KARACHI : Car sales in the first half of current fiscal year went up by 20.5 per cent amid negative developments including the government’s decision to impose a ban on CNG kits and cylinders, suspension in production of Honda Civic and City and increase in prices of all vehicles. According to figures shared by the Pakistan Automotive Manufacturers (PAMA), consumers purchased 12,240 more cars in July-December 2011 to 71,886 units as compared to 59,646 units in the same period of 2010. Increase in production of Suzuki Mehran and Suzuki Bolan for onward supply to Punjab government’s Yellow Cab Scheme was the main reason that averted the negative impact of ban on ...
Post a Comment
Read more