Cement companies in the Southern region have raised prices by PKR20 per bag. A senior executive of Lucky Cement said in answer to queries on Tuesday that the price was increased in late January to cover costs.
The off-take was also said to have improved by 25 per cent.
Lucky had unveiled the financial figures for first six months of FY11 on Monday, which could be a harbinger for the upcoming industry results.
The company suffered 23 per cent drop in profit-after-tax to PKR1461m (EPS: PKR4.52) compared to PKR1908m (EPS: Rs5.90) in the corresponding period of the previous year.
One of the major reasons for the diminished earnings was a huge jump of 64 per cent in “distribution costs”, which swelled to PKR1127m during the half year.