Cement News tagged under: Lucky Cement

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Taiwanese cement producers see revenue decline in January

10 February 2020, Published under Cement News

Taiwan’s cement manufacturers have recorded a challenging start to the year, with Taiwan Cement Corp noting a 20.1 per cent decline in January revenue to TWD7.50bn (US$249.3m) from TWD9.39bn in the year-ago period. Elsewhere, Asia Cement Corp recorded a 34.1 per cent YoY decrease in revenue to TWD5.21bn for the first month of 2020. Lucky Cement saw a 16.1 per cent YoY fall in revenue to TWD296.4m from TWD353.19m in January 2019.

Lucky Cement wins International Corporate Social Responsibility Award 

04 February 2020, Published under Cement News

Lucky Cement Ltd received the International Corporate Social Responsibility Award in the category of "Green Environmental Stewardship", organised by The Professionals Network (TPN), at the 9th CSR Summit and Awards held on 30 Jan 2020 at a local hotel in Karachi, Pakistan.   Lucky Cement Ltd received this prestigious award in recognition of its efforts to control carbon emissions into the atmosphere, via innovative techniques and contribution towards protecting the overall environment.   Spe...

Lucky Cement reports profit fall during 1H20

30 January 2020, Published under Cement News

Lucky Cement Ltd of Pakistan has announced its financial results for 1HFY19-20, posting earnings of PKR1.937bn (US$12.54m), down 65 per cent when compared with earnings of PKR5.501bn reported for the 1HFY18-19. Revenues also fell by 15 per cent YoY to PKR 21.211bn in the 1HFY19-20, largely due to a slowdown of demand coupled with weaker pricing resulting from the industry's demand-supply gap.   Commenting on results, a local research house attributed the fall in profits to pricing weakness, ...

Lucky Cement successfully completes new line; receives PSX award

31 December 2019, Published under Cement News

Lucky Cement Limited has informed the Pakistan Stock Exchange (PSX) and local authorities that the brownfield expansion for the additional 2.8Mta line at its Khyber Pakhtunkhwa plant in the north of Pakistan has been successfully completed on schedule. In a bourse filing, Irfan Chawala, Finance Director, stated that the new line was made operational with the start of clinker production on December 30, 2019: "With the addition of this new 2.8Mta line, the total production capacity (includ...

Lucky Cement reports fall in profit by 62% in 1QFY20

31 October 2019, Published under Cement News

Lucky Cement Ltd of Pakistan has announced its financial results for the 1QFY20 ended September 2019. It posted a net profit after tax of PKR955.8m (US$6.1m) as compared to PKR2.492bn earned in the same quarter last year, which is contracted by 62 per cent.  Apparently, fewer sales to PKR13.92bn from PKR6.01 during this period was one of the factors, besides company attributes it to adverse pricing and cost inputs in addition to higher distribution cost. The company sustained a hi...

Profitability of top six Pakistan producers remains under pressure in 1QFY20

21 October 2019, Published under Cement News

The top six cement producers in Pakistan are likely to report a fall in profits and losses in 1QFY20 on the back of significantly build-up in cost pressures, weak domestic demand, infighting among northern-based producers, local taxation issue and axle load factors, says a report of a local research houses. Analyst expects that the IMS Cement Universe (comprising Lucky Cement, Maple Cement, Kohat Cement, DG Khan Cement, Fauji Cement and Cherat Cement) to post combined net loss after tax o...

Lucky Cement solicits modification in power supply licence

06 September 2019, Published under Cement News

The Government of Pakistan's National Electric Power Regulatory Authority (NEPRA) has received an application from Lucky Cement (Pvt) Ltd, seeking permission to supply surplus power to any utility in DHA City, Karachi, as a bulk power consumer. To grant approval, NEPRA has asked all stakeholders, interested/affected persons and the general public to offer their comments in favour or against the approval for proposed modification in the generation licence of Lucky Cement. Lucky Cement ha...

Pakistan makes GIDC workable for industries

02 September 2019, Published under Cement News

The President of Pakistan, Arif Alvi, promulgated the Gas Infrastructure Development Cess - GIDC (Amendment) Ordinance 2019 to waive half of the outstanding liabilities of the fertiliser, textile, power generation, compressed natural gas (CNG) and cement sectors, last week. According to a local research house, the government has reportedly made amendments to the GIDC Act to recover the long standing overdue of the cess from various industries. Key highlights of the Act include 50 per cent ...

Lucky Cement awarded for Best Corporate Report

23 August 2019, Published under Cement News

Lucky Cement Ltd has won the Best Corporate Report Award with second position in the cement category at the much anticipated "Best Corporate & Sustainability Report Awards 2018". The award ceremony was jointly organised by the Institute of Charted Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP), at a local Hotel in Karachi this week. ICAP and ICMAP have been organising the Best Corporate Report (BCR) Awards ceremony since 2000. This award...

Lucky Cement profit squeezes in FY19

30 July 2019, Published under Cement News

Lucky Cement Ltd informed the Pakistan Stock Exchange (PSX) on 29 July that its net profit after tax during FY19 stood at PKR10.5bn (US$65.16m), down 14 per cent YoY. The results were accompanied by a cash dividend of PKR6.5/share.   The company overall sales volume declined by 1.8 per cent to reach 7.67Mt during the current fiscal year. The local cement sales volume registered a decline of 11.7 per cent and totalled 5.85Mt in comparison to 6.63Mt last year. However, the export volumes impr...