Cement News tagged under: Lucky Cement Limited
Lucky Cement commissions 34MW solar power plant at Pezu30 December 2022, Published under Cement NewsThe installation of a 34MW captive solar power plant has been completed at the Pezu cement plant , Khyber Pakhtunkhwa (KPK), Pakistan, by Lucky Cement Limited , according to a regulatory filing sent to the Pakistan Stock Exchange. The regulatory filing adds that the solar power plant has been successfully commissioned and will be fully operational from December 29, 2022. Lucky Cement’s investment in renewable energy projects will result in cost savings and a reduction of the country’s re... |
Lucky Cement reports consolidated earnings of PKR28.2bn for FY2110 August 2021, Published under Cement NewsPakistan-based Lucky Cement Ltd reported a consolidated profit after tax of PKR28.23bn (US$172.46m) against PKR 7.1317bn in the previous fiscal year. The company achieved a consolidated gross turnover of PKR267.73bn, which is 64 per cent higher as compared to last year’s turnover of PKR162.87bn. The PAT of the cement segment (holding company) grew by 3.21 times during the year under review due to improved margins and sales volumes. The increase in sales volumes was attributable to the ... |
Lucky Cement starts commercial operations at Samawah plant12 March 2021, Published under Cement NewsLucky Cement Ltd has announced the commencement of commercial operations of its Samawah plant in Iraq. The company in a notification to the Pakistan Stock Exchange (PSX) on Thursday informed, "We are pleased to announce that the greenfield cement production facility in Samawah, Iraq with a capacity of 1.2Mta has successfully commenced its commercial operations with effect from 10 March 2021." The production facility is a joint venture with the Al-Shamookh group of Iraq. With the l... |
Lucky Cement profits fall to PKR3.34bn in FY2026 August 2020, Published under Cement NewsLucky Cement Ltd has announced dismal financial results for FY19-20 (July 2019-June 2020). The company earned an after-tax profit of PKR3.34bn (US$19.8m) as compared to PKR10.49bn, reported during the same period in the previous financial year. The company attributed the drop in the profitability for the last three years mainly to increased capacities coming online locally, which has put downward pressure on margins, while input costs have continued to increase. However, as the local deman... |
Five Pakistan cement producers to release 3Q results amid coronavirus pandemic17 April 2020, Published under Cement NewsPakistan's leading cement companies are scheduled to announce on 23 April their financial results for the 3QFY19-20 ended 30 March 2020. Analysts anticipate mixed results, carrying some negative reflection of mitigation efforts to stop the spread of the coronavirus in the country. During this accounting period, the pandemic started to spread and the government enforced lockdown to control it in all provinces, aiming social distancing. This later triggered the closure of some cement plants... |
Increase in gas price may impact Pakistan cement industry23 December 2019, Published under Cement NewsPakistan's government intends to increase gas prices effective from 1 January 2020 for all types of commercial consumers, including the cement industry. A research house anticipates a large gas price increase, which could eat into the margins for a range of sectors such as cement, chemicals, fertiliser and textiles. The proposed prices hike will be considered by the petroleum division, which will then forward their proposal to the Economic Coordination Committee (ECC), Government of Paki... |
Lucky Cement updates progress on overseas and local projects16 September 2019, Published under Cement NewsLucky Cement is currently implementing two cement projects: the overseas cement plant in Samawah in Iraq and the 2.6Mta brownfield cement plant expansion in Khyber Pakhtunkhwa province, Pakistan. According to Lucky Cement's annual report for 2019, the first shipment of plant and machinery from Sinoma to the Samawah site is expected to start of October 2019. Commissioning will take place in FY20-21. Similarly, the letter of credit for the power plant in Iraq has been established and s... |
Mixed court orders for Pakistan's cement industry20 November 2018, Published under Cement NewsThe cement industry has received mixed court orders from Supreme Court of Pakistan and Peshawar High Court on environmental/water scarcity and the gas tariff issue, respectively last week. Lucky Cement Ltd has received a stay order from the Peshawar High Court bench, which has temporarily directed the gas utility company Sui Northern Gas Pipelines Ltd (SNGPL) not to collect a higher tariff from the cement company. The court also sought written response from the petroleum secretary, Oil an... |
Lucky Cement re-appoints top directors12 October 2018, Published under Cement NewsIrfan Chawala, CFO of Lucky Cement, has informed Pakistan's Stock Exchange of the re-appointment of top executives of the company. The Board of Directors has re-appointed Muhammad Yunus Tabba as the Chairman of the Board of Directors for another term of three years, while Muhammad Ali Tabba is also re-appointed, as CEO for three years. Other company directors are Muhammad Sohail Tabba, Jawed Yunus Tabba and Mariam Tabba Khan, which have been appointed as non-executive directors as well a... |
Lucky Cement earns PKR12.20bn after-tax profit in FY1801 August 2018, Published under Cement NewsLucky Cement earned after-tax profit of PKR12.2bn (US$98.4m) in FY18 as compared to PKR13.69bn in the same period last year, said the company filing to PSX. Experts comment that Lucky Cement's net sales grew by only 4.1 per cent YoY to PKR47.54bn despite a 9.3 per cent YoY increase in dispatches, largely due to lower retention prices during the year. Cost of sales grew by 25 per cent YoY PKR30.59bn, mainly on account of elevated coal and fuel oil prices on the international market, the dev... |