Lucky Cement 9MFY16-17 profit and volumes increase

Lucky Cement achieved a profit before tax of PKR14.668bn (US$140.2m) during the first nine months of FY16-17 compared to the PKR13.395bn recorded in the same period a year earlier.

Cement volumes increased by 8.3 per cent to 5.53Mt in the nine month period. Exports, however, were down by 23.09 per cent.

The increase in revenue of 5.4 per cent was mainly attributed to the higher sales volumes. During the period, the company’s cost per tonne of sales was down by four per cent YoY, which was largely due to the positive impact of the waste heat recovery installation at the company’s Pezu plant and improved capacity utilisation.

Project update
Construction of Lucky Cement’s 1.25Mta line at its Karachi plant is in full swing and due to start commercial operations in December 2017, the company noted.

Meanwhile, Lucky Cement is still in the process of seeking the necessary approval and authorisation from the government of Punjab for the construction of a 2.3Mta greenfield plant in the province.