Lucky Cement posts 2.38% profitability growth for the first quarter
Company’s local sales decline 23% during the quarter
Pakistan’s leading cement maker, Lucky Cement has posted a 2.3% growth in net earnings on the back of higher retention prices.
According to a stock filing, Lucky recorded a net profit of PKR 19.8 billion ($70.7 million) translating into EPS of 61.18 for the quarter ended September 30, 2024, compared with the profit of PKR 19.35 billion and EPS of 57.8. The company didn’t announce any payout along with the results.
Sales revenue increased 21% to PKR 25.22 billion during the quarter compared with PKR 20.5 billion in the same period last year.
According to a report issued by Arif Habib Limited, gross margins for 1QFY25 arrived at 32.9% against 36.9% during the same period last year.
The fall in gross margins is on the back of lower local dispatches arriving at 1.37 million tons, down 23% compared with the same period last year.
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