Lucky Cement domestic sales boost full-year profit, Pakistan

Lucky Cement reported a 71 per cent rise in full year net profit as domestic sales offset a decline in exports.

Net income was PKR6.78bn (US$71.8m) in the 12 months ended 30 June with a PKR3.97bn (US$623.5m) a year earlier, the Karachi-based company said in a filing to the stock exchange.

Revenue rose 23 per cent to PKR39.1bn while sales were three per cent higher at 5.97Mt.

Domestic sales rose seven per cent while exports were down 4.7 per cent to 2.25Mt, the company said. A total of 62 per cent of sales were derived from local sales and 38 per cent from overseas shipments.

Domestic cement consumption “is expected to increase during the next financial year,” the company said in a statement, citing “spending on public development projects by the government in the view of upcoming national elections.”