On a consolidated basis, Lucky Cement Limited reported net profit after tax of Rs 14.82 billion after taking out Rs 1.35 billion attributable to non-controlling interests for the financial year ended June 30, 2018, which translates into earnings per share (EPS) of Rs 45.83/share as compared to Rs 50.18/share reported last year.
The Board of Directors proposed a final cash dividend of Rs 8.00 per share subject to approval of shareholders in the upcoming Annual General Meeting scheduled to be held on September 28, 2018. This proposed final cash dividend is in addition to the interim cash dividend of Rs 5.00 per share, as previously recommended by the Board of Directors for the financial year ended June 30, 2018.
On a consolidated basis, the company achieved gross turnover of Rs 124.68 billion which is 13.6 percent higher as compared to last year's turnover of Rs 109.80 billion.
With regards to the company's stand-alone performance, the gross sales revenue of the company increased by 9.4 percent to Rs 67.38 billion compared to Rs 61.60 billion reported last year. The increase in revenue was mainly due to higher volumes and increase in Federal Excise Duty and Sales Tax. Furthermore, Lucky Cement recorded net profit after tax of Rs 12.20 billion which is 10.9 percent lower as compared to last year. Similarly, the standalone EPS of the Company is Rs 37.72 / share which is 10.9 percent lower as compared to last year's reported EPS of PKR 42.34 / share.
The local cement sales volume of the Company during the fiscal year registered a growth of 14.8 percent (North 18.1 percent and South 11.0 percent) to reach 6.63 million tons compared to 5.77 million tons reported last year, whereas, local clinker sales volumes declined by 80.1 percent to 0.06 million tons during the current financial year as compared to 0.30 million tons last year, resulting in the overall local sales growth of 10.2 percent to reach 6.69 million tons during the current financial year compared to 6.07 million tons last year; while export sales volume increased by 4.6 percent to 1.13 million tons compared to 1.08 million tons reported last year.
Lucky Cement also shared progress on its Brownfield expansion for cement production of 2.6 million tons per annum at its Pezu Plant and the Greenfield investment project for producing 1.2 million tons of clinker at Samawah, Iraq. In addition, the Company also reported progress on its investment projects of 1 X 660 MW supercritical coal based power project at Port Qasim and automobile manufacturing plant under license from Kia Motors Corporation.
Lucky Cement remains committed towards value-creation for the society in which it operates. In this regard, the Company extended numerous scholarships to deserving students for various leading universities in Pakistan and abroad. Keeping in view the importance and impact of women empowerment in Pakistan, the Company in collaboration with Zindagi Trust continued its support for two leading Government girls' schools in Karachi.
The company also continued to donate generously towards health-based initiatives by supporting various welfare organizations. Lucky Cement always takes its responsibility towards environment seriously and for continuous efforts to curtail carbon emissions in the atmosphere, Lucky Cement has a comprehensive air quality measurement program that enables it to identify the limits of pollution parameters in the ambient air in and around its cement plants and all mentioned parameters are closely monitored and kept well below the respective limits as specified by the National Environment Quality Standards (NEQS).-PR
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