Lucky Cement recorded a consolidated net profit of Rs 14.82 billion after taking out Rs. 1.35 billion attributable to non-controlling interests for the financial year that ended on June 30, 2018.
Earnings per share (EPS) stood at Rs 45.83 compared with an EPS of Rs 50.18 in the period under review.
The Board of Directors proposed a final cash dividend of Rs 8.00 per share subject to the approval of shareholders in the upcoming Annual General Meeting scheduled to be held on September 28, 2018.
This proposed final cash dividend is in addition to the interim cash dividend of Rs 5.00 per share, as previously recommended by the Board of Directors for the financial year ending June 30, 2018.
The company achieved an overall growth of 9.3% with a total sales volume of 7.82 million tons during the current fiscal year as compared to 7.15 million tons sold last year.
Local clinker sales volumes declined by 80.1% to 0.06 million tons during the fiscal year as compared to 0.30 million last year.
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The company achieved a gross turnover of Rs 124.68 billion which is 13.6% higher as compared to last year’s gross turnover of Rs 109.80 billion.
During the fiscal year, it achieved an overall gross sales revenue growth of 9.4% which was mainly due to the impact of higher volumes and increase in Federal Excise Duty and Sales Tax.
The cost of sales increased by 14.7% on the basis of an increase in coal prices, packing material and other fuel prices.
With regards to the company’s standalone performance, the gross sales revenue increased by 9.4% to Rs 67.38 billion compared to Rs 61.60 billion reported last year.
Furthermore, Lucky Cement recorded net share which is 10.9% lower as compared to last year’s reported EPS of Rs 42.34 per share.
LUCKY’s script at the bourse was closed at Rs 550.98, down by Rs 25.49 on Tuesday with a turn over of 1.2 million shares. The local cement sales volume of the company during the fiscal year registered a growth of 14.8% (North 18.1% and South 11.0%) to reach 6.63 million tons compared to 5.77 million tons reported last year.
Projects
Lucky Cement also shared progress on its brownfield expansion for cement production of 2.6 million tons per annum at its Pezu Plant and the greenfield investment project for producing 1.2 million tons of clinker at Samawah, Iraq.
In addition, the company also reported progress on its investment projects of 1 X 660 MW supercritical coal-based power project at Port Qasim and automobile manufacturing plant under license from Kia Motors Corporation.
CSR
Lucky Cement remains committed towards value creation for the society in which it operates. In this regard, the company has offered numerous scholarships to deserving students for studies in Pakistan as well as abroad.
Keeping in view the importance and impact of women empowerment in Pakistan, Lucky Cement, in collaboration, with Zindagi Trust continued its support for two leading government schools for girls in Karachi.
The company also continued to donate generously towards health-based initiatives by supporting various welfare organizations. Lucky Cement always takes its responsibility towards the environment seriously and continuously makes efforts to curtail carbon emissions in the atmosphere.
