Lafarge Pakistan Cement swings to profit

Lafarge Pakistan Cement swings to profit
20 March 2013

Lafarge Pakistan Cement (LCP) has earned a net profit after tax of PKR1.488bn (US$15.17m) for the year ending 31 December 2012, compared to a loss of PKR118.42m in the previous year.

Net sales rose PKR9.624bn last year from PKR7.804bn, reflecting a growth of 23.32 per cent. The cost of sales stood at PKR6.44bn against PKR6.148bn in 2011. The company incurred distribution costs of PKR225m and administrative expenses of PKR627n compared to PKR246m and PKR487m, respectively, the year before. The Board of Directors at a meeting held on 19 March 2013 has approved a cash dividend of PKR0.30/share.

Health and safety standards

Meanwhile, Islamabad Electric Supply Corporation's team (IESCO) recently paid a visit to Lafarge's plant in Kallar Kahar recently headed by IESCO's chief executive officer, Javed Pervaiz, to receive hands-on knowledge of Lafarge's safety policies and procedures.

Standards for Work-at-Height (WAH), Energy Isolation and Risk Management proved to be the highlight of the visit as these are the areas of highest relevance and risk exposure for IESCO employees in their day-to-day operations.

Mr. Pervaiz commended the quality and level of safety in practice at Lafarge Pakistan and expressed a desire for further collaboration between the two organisations.

Published under Cement News