Big rise in Lucky Cement Jul-Dec profits

Pakistan: Lucky Cement’s profits in the six months ended on December 31, 2003, registered an increase of 89 percent because of higher sales and cut in borrowing costs. The operating profits before tax, improved to Rs414 million during the half year ended December 31st, 2003, as compared to Rs220 million of the same period a year earlier. Its net profit moved upto Rs. 408 million, or 1.66 rupees a share, as compared with Rs 215 million or 0.88 rupee a share.

Lucky has announced that the capacity of its existing two production lines is being increased from 5000tpd cement to 6000tpd by replacing the existing coolers and raw mill by highly efficient and large capacity coolers and new mills. Lucky also announced that it is constructing a third production line at existing site with a capacity to produce 3600tpd clinker and 3800tpd cement per day. With the implementation of BMR of existing lines and the third one which will be online before the end of next year, Lucky Cement would become the largest cement producer of the country.