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Karachi: Lucky Cement’s earnings clock in at Rs2.67b
Lucky Cement – one of the country’s largest cement maker with 18% market share – has posted a net profit of Rs2.67 billion during the first quarter of fiscal year 2015 (FY15), up 5% compared to Rs2.55 billion in the same period last year.

Earnings per share (EPS) increased to Rs8.25 compared to Rs7.87 in the period under review. The increase in earnings were primarily due to an improvement in volumetric sales and higher cement prices, Global Research said on Thursday.

The earnings of the company were below expectations of Rs8.62 per share due to lower than expected realised gross margins, the report added.

On a sequential basis, earnings of the company declined by 16% quarter-on-quarter (QoQ) because of lower primary margins and a decline in volumetric sales.

Lucky Cement’s revenues increased by 12% year-on-year (YoY) to Rs10.47 billion during the first quarter of FY15, owing to a 6% YoY increase in the total cement dispatches to 1.61 million tons and an 8% YoY increase in local cement prices to Rs525 per bag.

Despite higher cement prices, gross margins of the company declined by 3% YoY to 42% in the first quarter of FY15 because of a significant increase in both the gas tariff and Gas Infrastructure Development Cess (GIDC). Sequentially, margins declined by 1% QoQ because of lower volumetric sales and GIDC hike.

Other income of the company surged by 50% YoY to Rs332 million because a significantly higher cash balance of Rs9 billion improved the company’s treasury income during the period. During the first quarter of FY15, the market share of Lucky Cement also increased by 4.3% owing to a 3.3% increase in the local market share and a 12.6% increase in export share compared to the corresponding period last year.
UAECEMENT.COM - Nov,01,2014



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