- Net profitability declined on back of lower domestic sales, rising costs
- New facility expected to commence from Dec-2019 in KPK, while Iraqi facility scheduled for September-2020
Lucky Cement Limited (LUCK) has announced Financial Year 2019 result where Net Profit clocked in at Rs. 12.34 billion (EPS: Rs. 35.03), down 24%YoY. LUCK also announced a dividend of Rs. 6.5/share.
Lucky’s Sales dispatches within the country fell by 12.4%YoY due to overall recessionary conditions leading to lesser demand while exports increased significantly by 61%YoY on the back of new clinker exporting destinations of Bangladesh and Sri Lanka.
On volumetric terms, total dispatches were 1.8% lower at 7.7mn tons.
Lucky Cement Segment Gross margins fell sharply to just 29% as compared to 36% in FY18. However, a 25% YoY increase in other income helped in containing the decline in earnings to some extent.
Lucky Cement has notified that its new clinker production facility os 1.2 million tons capacity in Samawah, Iraq is expected to achieve commercial production target by September-2021. While its ongoing expansion in KPK is scheduled to come online by December-2019.
|Rupees in ‘000||2019||2018|
|Cost of sales||(84,506,680)||(71,943,557)|
|Gross profit||23,788,965||25,598 327|
|Share of profit – joint ventures and associates||1,012,870||1,865|
|Profit before taxation||15,157,846||19.873.400|
|Profit after taxation||12,346,955||16,173,553|
|Earnings per share – basic and diluted||35.03||45.83|
Lucky Cement Annual Report 2019-PDF
Lucky Cement Annual Report contains details of Full Year financial operations of 2019 including head wise details of the Balance sheet, Income Statement and Cash Flow Statement. Lucky Cement Annual Report in PDF for 2019 can be downloaded from below mentioned link.