Lucky Cement on Thursday reported that its profit decreased 28 percent for the half year ended December 31, 2018.
Lucky Cement on Thursday reported that its profit decreased 28 percent for the half year ended December 31, 2018. The cement maker, in a statement, said it earned Rs6.137 billion in the 1HFY19 with earning per share of (EPS) of Rs 17.92, compared to Rs8.576
billion recorded in the same period a year ago (EPS: Rs 24.47). The company did not announce any cash dividend. Lucky Cement said its finance cost increased 2.46 percent to Rs 774 million compared to Rs 314 million a year earlier.
Topline Securities in a report said for 2QFY19, Lucky reported consolidated earnings of Rs2.8 billion (EPS: Rs8.8), down 30 percent year-on-year, which was broadly in line with street consensus. The brokerage said net sales were up 19 percent year-on-year during the outgoing quarter, owing to 25 percent year-on-year higher revenues from its subsidiary ICI Pakistan. The report added that cement segment sales were up 12 percent year-on-year, mainly on the back of significant increase in exports, led by clinker sales to regional countries.
Local sales were down 7 percent year-on-year in 2QFY19, as construction activities were affected by slowdown in overall economy, the brokerage said.
source: The News