Lucky Cement's Profits at the year ending on June 30th 2018 falls by 7%: Earnings Report

In its Board of Directors Meeting held on Tuesday, July 31, 2018, Lucky Cement finalized its financial results for the year ended June 30, 2018.

The company reported an increase in gross sales of about 13.6 %, but due to an increase in Sales taxes, excise duties, and rebates and commissions, the company reported a net sales growth of 11.6%.

Cost of sales, on the other hand, jumped by 23.1% leading to a decrease in gross profits of 11.5%.

Distribution costs, administrative expenses, finance cost and other expenses increased along with other income.

Even though other income increased by 32.6%, profit before taxation fell by 15.9% owing to the increase in the cost of sales and expenses while profit after taxation decreased by 7 % as taxation declines by 40.7%

Lucky Cement further reported that their Basic and diluted earnings per share during the period under review is at Rs.45.83, down from Rs. 50.18 previously.