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.
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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