Lucky Cement profit down by 24% to Rs. 12.34 billion; Annual Report 2019

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Lucky Cement profit down by 24% to Rs. 12.34 billion; Annual Report 2019

Lucky cement annual report 2019 download pdf
  • 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
Net Revenue 108,295,645 97,541,884
Cost  of  sales (84,506,680) (71,943,557)
Gross  profit 23,788,965 25,598  327
Distribution  cost (5,855,390) (4,736,174)
Administrative  expenses (3,274,843) (2,586,556)
Finance  cost (1,609.88) (829,919.00)
Other  expenses (1,903,511) (2,204,275)
Other  income 2,999,637 2,766,520
Share  of  profit  –  joint  ventures  and  associates 1,012,870 1,865
Profit  before  taxation 15,157,846 19.873.400
Taxation (2,810,891) (3,700)
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.

Download Lucky Cement Annual Report 2019 PDF

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