Lucky Cement posts healthy 1HFY13 results – Alfalah Securities Limited

Karachi, January 29, 2013 (PPI-OT): Lucky Cement (LUCK) has announced 1H FY13 results revealing a profit after tax of PkRs 4.3 bn (EPS: PkR13.27) as against PkR 3 bn during the same period of last year depicting an increase of 42%YoY.

According to Alfalah Securities Limited, the company’s revenues increased by 14% during 1HFY13 to PkRs 17.5 bn where the local cement dispatches of the company increased by 5.5%YoY to 1.77 mn tons while the exports sales declined by 14.6% YoY to 1.01 mn tons. Total dispatches stood at 2.78 million tons lower by 2.8%YoY in 1HFY13.

LUCK reported a gross margin of 44% in 1HFY13 as against 38% in the same period last year which further improved the bottom line profitability of the company. LUCK posted profit after tax of PkRs 2.28 bn (EPS: PkRs 7.04) in 2QFY13 which is higher by 50.0% YoY. Alfalah Securities Limited recommends a buy on LUCK as it trades at attractive FY13E P/E of 5.78x.

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