Pakistan: Lucky Cement Limited has outperformed its competition by recording a 42.2% rise in its half-year profit for the year 2012-13. It has declared a profit for the half-year ending on (31 December 2012) of US$43.9m.The company's gross profit increased by 32.3% during the half-year as its net sales revenue improved by 13.9% to US$179.3m.
During the period under review, the combined sales revenue of Lucky Cement increased by 13.9%. This was attributed to a 21.3% growth in domestic sales and a 3.7% growth in exports.
To enhance the quality of cement and for capturing new export markets, Lucky Cement plans to replace its existing cement grinding mills from Chinese suppliers located at the Karachi plant with vertical mills from European suppliers. This replacement will reduce the cost of production due to more energy efficient operations.