Lucky Cement posts double-digit rise in 9M net profit, Pakistan

Lucky Cement recorded net profit for the nine months ending 31 March 2015 of PKR9.30bn (US$91.5m), up 13.7 per cent YoY.

The company's gross profit increased by 7.2 per cent during the nine months as its net sales revenue improved by 5.38 per cent to PKR33.15bn against PKR31.45bn for the corresponding period of last year. The increase in net sales revenue was attributed to a 4.03 per cent increase in volume and 1.35 per cent increase in net retention prices.

Sales volumes increased by 6.85 per cent to 3.18Mt compared to 2.97Mt in the same period of  last year, whereas exports declined by 0.48 per cent to 1.85Mta.

Lucky Cement also reported successful completion of Installation of vertical grinding mills and waste heat recovery (WHR) plant at its Karachi plant and  progress on other key foreign investments and local projects ie, fully integrated cement manufacturing plant in the Democratic Republic of Congo, grinding unit in Iraq, 1 x 660MW  coal based power project, 50MW wind Farm, electricity supply to PESCO and WHR Plant at Pezu.