Lucky Cement’s profit dips 6%

KARACHI: Lucky Cement recorded a consolidated profit of Rs4.4 billion in the quarter ended December 31, 2017, down 6% compared with Rs4.7 billion posted in the same period of 2016, according to a company notice sent to the Pakistan Stock Exchange (PSX).

Earnings per share (EPS) stood at Rs12.58 compared with an EPS of Rs13.43 in the period under review.

Topline Securities reported that the result was still better than expectations.

This takes six-month (Jul-Dec) net earnings to Rs8.57 billion (EPS of Rs24.47), down 2% compared with Rs8.74 billion (EPS of Rs25.12) in the same period last year. The KSE-100 index closed at 44,551, down 265 points or 0.59% while Lucky Cement’s share price closed at Rs658.49, down 1.2%.

In the second quarter of fiscal year 2018, the company reported 4% year-on-year growth in consolidated net sales, mainly owing to 17% higher sales reported by its subsidiary, ICI Pakistan (ICI), which contributed 50% to total revenues.

Published in The Express Tribune, January 27th, 2018.

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