Cement News tagged under: Lucky Cement

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Lucky Cement unit gets licence to generate 660MW coal power

08 March 2016, Published under Cement News

The government of Pakistan has licensed Lucky Electric Power Co, a concern of Lucky Cement, to generate electricity from its 660MW coal-fired plant. “In order to meet the future energy needs of the country and to improve the energy mix, the Pakistan Power Infrastructure Board issued letter of intent to various local and foreign investors/groups, including Lucky Cement Limited for setting up 660MW imported coal-based generation facility at Deh Ghangario, Bin Qasim Town,” according to a docum...

Lucky Cement not to proceed with court challenge

01 February 2016, Published under Cement News

Lucky Cement has decided to drop its South African court challenge regarding the imposition of anti-dumping duties by the International Trade Administration Commission (Itac) on Portland cement imports originating from Pakistan. The company said it had instead decided to put its faith in the Pakistan government's approach to the World Trade Organisation (WTO) to challenge and revoke the anti-dumping duties. Muhammad Faisal, the financial director of Lucky Cement, confirmed to Business Rep...

ITAC announces final anti-dumping duties

23 December 2015, Published under Cement News

South Africa has imposed final anti-dumping duties on Portland cement originating in or imported from Pakistan, ranging between 14.29 and 77.15 per cent, effective 18 December 2015. The duties will remain in place for a period of five years, unless a review process takes place. The decision follows an investigation initiated by the International Trade Administration Commission of South Africa (ITAC) on 22 August 2014 after local producers AfriSam, Lafarge Industries South Africa, NPC Cimp...

Lucky considers increasing northern exposure

12 October 2015, Published under Cement News

Lucky Cement plans to build a new cement plant in the north region of the country to meet growing demand, a senior company official said on Friday. "Yes, we have planned to set up a plant in the north [of the country], News International quoted the company's CEO Muhammad Ali Tabba, as saying. "Our next board of directors meeting is scheduled at end of October and we would take up the plan there for approval," he added. Lucky Cement would release all relevant financial and other information...

Lucky Cement full-year profit advances, Pakistan

09 September 2015, Published under Cement News

Lucky Cement Ltd reported net profit of PKR12.43bn (US$119m) for the year ended 30 June 2015, representing a 9.6 per cent YoY increase. Revenue advanced by 3.9 per cent to PKR44.76bn compared to PKR43.08bn a year earlier. The increase was mainly attributed to higher sales local volumes which rose by seven per cent YoY to 4.42Mt. However, exports declined by 4.5 per cent to 2.37Mt compared with 2.48Mt during the year before. On a consolidated basis, Lucky Cement reported net profit of P...

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

24 April 2015, Published under Cement News

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 increase...

Lucky Cement first-half profit up 8.5%

23 February 2015, Published under Cement News

Pakistan's leading cement producer, Lucky Cement, reported a profit after tax of PKR5.6bn (US$55.1m) during the first half of FY14-15 versus PKR5.16bn a year earlier. During the six-month period, net sales rose nine per cent YoY to PKR21.4bn. The increase is attributed to a 9.2 per cent uptake in sales volumes to 2.02Mt, a 2.24 per cent improvement in exports to 1.23Mt and a 2.91 per cent rise in net retention. According to Al Habib Capital Markets, Lucky Cement's margins remained sta...

Lucky Cement gets go-ahead for coal power plant investment

14 January 2015, Published under Cement News

Lucky Cement Ltd's Board of Directors has approved the investment of around PKR27bn (US$268.4m) to set up a 660MW coal-based power plant in Karachi, Pakistan. Under the name of Lucky Electric Power Co Ltd (LEPCL) the power plant will be wholly-owned by Lucky Cement and will be financed with a debt/ equity ratio of 75:25. The announcement comes shortly after fellow-Pakistan producer Attock Cement Ltd signed an Memorandum of Understanding with K-Electric to establish a coal-fired plant fo...

AfDB mobilises US$60m loan for DRC cement project

05 December 2014, Published under Cement News

The Nyumba Ya Akiba Cement project in the DR of Congo marked a significant milestone last week with the loan signing of US$135m. The 1.18Mta greenfield plant is a 50/50 joint venture between leading Pakistan cement producer Lucky Cement Ltd and Groupe Rawji, one of the DRC’s largest conglomerates. The project has attracted financial support from the African Development Bank (AfDB), Eksport Kredit Fonden (EKF, as guarantor to AfDB), Emerging Africa Infrastructure Fund (EAIF), Habib Ban...

Pakistan: Lucky Cement first-quarter profit up 4.8%

31 October 2014, Published under Cement News

Lucky Cement Ltd, Pakistan’s leading cement producer, saw a 4.8 per cent rise in net profit for the first quarter of the current Pakistan fiscal to PKR2.669bn (US$26m). Earnings per share (EPS) during the July-September 2014 period increased to PKR8.25 against PKR7.87 in the corresponding period last year. Gross profit increased by 5.9 per cent during the quarter as its net sales revenue improved by 12.2 per cent to PKR10.470bn against PKR9.332bn of the corresponding period last year. Loca...