Lucky Cement’s profits surge by 109% in first half of FY23 

Company’s board recommended no cash dividend, bonus, or right share issue   

Lucky Cement has reported a 12.7% increase in revenues, a 66.1% rise in operating profits, and a 109.1% growth in net profit for the half-year ending on December 31, 2023.

According to a notice sent to the Pakistan Stock Exchange (PSX), the primary reason for the increase in gross revenues on a consolidated basis is the higher domestic sales and increased revenues from subsidiaries, namely Lucky Electric Power Company and Lucky Core Industries Limited. 

All Values in Million Except EPS

1H FY23

1H FY24

Percentage Change

Gross Revenue

219,532

247,475

12.7%

Net Revenue

185,590

206,523

11.3%

Gross Profit

39,064

63,062

61.4%

Gross Profit Margin

17.79%

25.48%

43.2%

Operating Profits

30,937

51,375

66.1%

EBITDA

38,771

60,328

55.6%

Net Profit

18,324

38,324

109.2%

Net Profit Margin

8.35%

15.49%

85.5%

Net Profit Attributable to Company Owners

15,913

35,339

122.1%

Earnings Per Share (EPS) RS

49.32

117.19

137.6%

The company’s total cement dispatches increased by 23% year-on-year to 4.41 million tons which drove the high revenue growth during the period under review. Export dispatches rose by 59% in the first half of FY24 compared to the 16% increase in local dispatches.

The company also successfully added a new cement line in Pezu.  

Lucky Cement was incorporated in Pakistan on September 18, 1993 under the Companies Ordinance, 1984 (now the Companies Act, 2017). The principal activity of the Company is the manufacturing and marketing of cement.

 

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