KARACHI: Lucky Cement (LUCK) Thursday posted a total comprehensive income of Rs16.16 billion in the year ended on June 30, up 9.3% compared to Rs14.78 billion in the same period of last year, according to a company notice sent to the Pakistan Stock Exchange (PSX).
“This result was better than what market had projected,” Topline Securities commented on Thursday. The result also accompanied a final cash dividend of Rs10 per share but the company’s share price declined by 1.84% to close at Rs680.5 on Thursday. The benchmark KSE-100 Index closed at 39,738, down 70 points or 0.18%.
The company’s revenues posted a flat growth of 1% year-on-year during fiscal year 2016 mainly due to the large decline in exports especially to South Africa, a key market for the company. However, robust increase in local dispatches offset the negative impact of export business during the year, according to a JS Research report.
Consolidated gross margin improved in the fourth quarter of the fiscal year. However, on standalone basis, gross margin fared better than expectations. “We attribute this to lower international coal and fuel prices, and savings from newly installed 5 megawatt waste heat recovery (WHR) at Karachi plant,” said a Topline report.
The result also accompanied a final cash dividend of Rs10 per share but the company’s share price declined by 1.84% to close at Rs680.5 on Thursday. The benchmark KSE-100 Index closed at 39,738, down 70 points or 0.18%.
The company’s revenues posted a flat growth of 1% year-on-year during fiscal year 2016 mainly due to the large decline in exports especially to South Africa, a key market for the company. However, robust increase in local dispatches offset the negative impact of export business during the year, according to a JS Research report.
Consolidated gross margin improved in the fourth quarter of the fiscal year. However, on standalone basis, gross margin fared better than expectations. “We attribute this to lower international coal and fuel prices, and savings from newly installed 5 megawatt waste heat recovery (WHR) at Karachi plant,” said a Topline report.
