Cement News tagged under: Lucky Cement

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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...

Lucky Cement  wins Environment Excellence Award 2019

11 July 2019, Published under Cement News

Lucky Cement Ltd won the Environment Excellence Award at the 16th Annual Environment Excellence Awards 2019, organised by The National Forum of Environment and Health (NFEH). The award ceremony was held at a local hotel on 9 July 2019. Lucky Cement received the award in recognition to its commitment towards energy conservation and contribution towards protecting the overall environment for a greener Pakistan. The Annual Environment Excellence Awards are the benchmark for environmental stan...

Taiwanese producers report positive May results

10 June 2019, Published under Cement News

Taiwan’s Hsing Ta Cement has reported a 30 per cent YoY increase in revenue for May 2019, rising to TWD800.42m (US$25.4m) from TWD625.56m. In the first five months of the year, the company saw revenue advance 30.6 per cent to TWD2.91bn from TWD2.23bn. Meanwhile, Lucky Cement announced that its revenue was up 3.6 per cent to TWD305.28m in May, compared with TWD294.58m in the year-ago period. In Jan-May 2019, revenue increased 3.9 per cent to TWD1.46bn from TWD1.41bn.

Lucky Cement receives corporate excellence award

16 May 2019, Published under Cement News

Lucky Cement Ltd has been awarded the 34th Corporate Excellence Award 2019 in the Cement Sector by the Management Association of Pakistan, for the fifth time in a row, last month. Lucky Cement stated in an announcement : "We thank our employees, business partners, customers and other stakeholders for helping us achieve this recognition. We continue to strive hard to reach new heights whilst focusing on the larger objective of continuing economic growth efforts of Pakistan." Before thi...

Gas supply to Lucky Cement Pezu plant cut off

08 May 2019, Published under Cement News

Lucky Cement has seen gas supply cut off at its Pezu plant as a result of the ongoing drive against gas theft undertaken by Sui Northern Gas Pipelines Ltd (SNGPL) in Khyber-Pakhtunkhwa, Pakistan. In a letter to Pakistani Prime Minister, Imran Khan, the company management highlighted the major shutdown at its Pezu plant in Lucky Marwat district, Khyber-Pakhtunkhwa. “For the past almost four months, we are facing major gas shutdowns atour plant and we have been raising the issue continuousl...