Lucky Cement makes history by recording 70.82% increase in Net Profit for year ending 30 June 2012!
KARACHI: Lucky Cement Limited declared the best ever profit after tax of Rs 6.78 billion for the year ending 30th June 2012, which is 70.82% higher than last year’s net profit of Rs. 3.97 billion.
Lucky Cement Limited also announced a cash dividend of Rs.6.0 per share, a 60% of par value of Rs. 10 per share for the year ended on June 30 2012. The Earnings Per Share (EPS) of the Company jumped to Rs. 20.97 per share versus Rs. 12.28 per share achieved last year.
The company’s gross profit increased by 46.03% during the year as its net sales revenue improved by 28.08% to Rs. 33.323 billion against Rs. 26.018 billion of last year. Higher sales volume in the domestic market coupled with better retention prices attributed to the record breaking profit declared.
The local sales volume during the year under review registered a growth of 7% that rose to 3.72 million tons as compared to 3.46 million tons of last year. However, the export sales volume declined by 4% from 2.35 million tons to 2.25 million tons during the financial year ending 30 June 2012, mainly due to the intentional focus on the domestic market, which contributed in increasing the overall profitability of the company. The financing cost of the company decreased to Rs. 253.23 million compared to Rs. 517.79 million in fiscal year 2011.
The Company undertook various capital expenditures for the enhancements of its efficiencies and cost competitiveness, which included new RDF/TDF plants and a new European origin Packing Plant for its Karachi Project.