Lucky Cement posts Rs1.9bn profit

Lucky Cement has announced its results for the first half of fiscal year 2008-09 (1HFY09).

The company has booked profits of Rs1.9 billion with Earning Per Share (EPS) of Rs5.99 versus Rs1.4 billion profit with EPS of Rs4.17 in the same period of pervious year, a considerable growth of 44 per cent.

Gross profit increased by a handsome 152 per cent to Rs4.9 billion versus Rs1.9 billion in 1HFY08. Moreover, gross profit margins of the company in 1HFY09 went up to 39 per cent from 27 per cent last year, due to better cement prices in the local market as well as high rupee-based export sales amid rupee depreciation.

In 1HFY09 the company’s distribution and administrative expenses took a significant jump to Rs1,184 million from Rs464 million in 1HFY08 - up by 155 per cent. Owing to foreign exchange losses, the company’s other charges rose by 264 per cent to Rs662 million.

In 1HFY09, local cement dispatches of the company fell by 19 per cent to 1.2 million tons while exports continued with their upward momentum to reach 1.4 million tons, up by 23 per cent.

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