Lucky Cement Records PKR 13.69 Billion Profit for Fiscal Year Ended June 30, 2017

Karachi(Cliff News)Lucky Cement Limited reported net profit of PKR 13.69 billion for the fiscal year ended June 30, 2017 which is 5.8% higher as compared to last year.  Consequently, the earnings per share (EPS) for the fiscal year increased to PKR 42.34 compared to PKR 40.03 reported during last year. The Company declared final dividend of PKR 12/- per share for the fiscal year ended June 30, 2017.The Company’s net sales revenue increased by 1.2% to PKR 45.69 billion compared to PKR 45.14 billion reported last year. The increase in net sales revenue was mainly attributable to increase in sales volumes.The local sales volume of the Company during the fiscal year registered a growth of 13.9% to 6.07 million tons compared to 5.33 million tons reported last year, whereas export sales volume registered a decline of 32.7% to 1.08 million tons compared to 1.61 million tons reported last year.On a consolidated basis, Lucky Cement reported net profit of PKR 16.22 billion for the fiscal year ended June 30, 2017 which is 9.1% higher as compared to last year. Consequently, consolidated EPS during the year increased to PKR 50.18 compared to PKR 45.99 reported last year.Lucky Cement also reported progress on its key local and international projects i.e. brown field expansion (installation of new production line) at Karachi Plant, fully integrated green field Cement Manufacturing Plant in Punjab province, investment in automobile Manufacturing plant under license from KIA Motors Corporation, brown field expansion in Cement Grinding unit in Republic of Iraq, 1 X 660 MW, supercritical coal based power project at Port Qasim.Lucky Cement remains committed toward value-creation for the society in which it operates. In this regard, the Company extended numerous scholarships to deserving students for various leading universities in Pakistan. Under the domain of empowering women in the country, Lucky Cement continued its support for two leading Government girls’ schools in Karachi in collaboration with Zindagi Trust.