Lucky Cement first-half boosted by higher prices, Pakistan

Pakistan’s Lucky Cement reported a net profit of PKR3.02bn (US$33.4m)  in the 1HFY12, which is 107 per cent higher than the same period of last by a rise in demand and prices.

The company's gross profit increased by 46.55 per cent during the half year as its net sales revenue improved by 27.82 per cent to PKR15.37bn against PKR12.03bn of last year.

During the July-November period, prices were 17.3 per cent higher YoY due to a reduction in cement takes and just a 10.8 per cent rise in coal prices, The Nation, reports.

Domestic dispatches increased by 11 per cent to 1.68Mt compared to 1.51Mt in the same period of last year while exports fell to 1.2Mt, down eight per cent YoY. Total dispatches stood at 2.9Mt, up two per cent YoY.