25 Apr 2016 13:10
LCL/ANNO/2015-16/ April 23, 2016
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The London Stock Exchange 10 Paternoster Square, London |
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Dear Sir(s)
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FINANCIAL RESULTS FOR THE 3RD QUARTER ENDED MARCH 31, 2016
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This is to inform you that the Board of Directors of our Company in their Meeting held on Saturday, April 23, 2016 at 11:30 a.m., at 6-A, Muhammad Ali Housing Society, A. Aziz Hashim Tabba Street, Karachi-75350 recommended the following:
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(I) Cash Dividend Nil
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(ii) Bonus Issue Nil
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(iii) Right Issue Nil
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(iv) Interim Dividend Nil
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The financial results of the Company consisting of Balance Sheet, Profit and Loss Account and Directors' Report are annexed.
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We will be sending you the requisite copies of printed financial statements in due course of time.
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Yours truly
for LUCKY CEMENT LIMITED
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MUHAMMAD FAISAL
Executive Director and
Chief Strategy, Finance & Investment Officer
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Unconsolidated Condensed Interim Profit and Loss Account | ||||||||||||
 For the nine months ended March 31, 2016 (Unaudited) | ||||||||||||
 |  |  |  |  |  |  |  |  |  |  |  |  |
 |  |  |  |  |  | Nine Months Ended |  | Quarter Ended | ||||
 |  |  |  |  |  | March 31, |  | March 31, |  | March 31, |  | March 31, |
 |  |  |  |  |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
 |  |  |  |  |  |  (Rupees in'000') |  |  (Rupees in'000') | ||||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Gross sales | Â | Â | Â | 41,259,823 | Â | 39,800,513 | Â | 14,562,492 | Â | 14,112,209 | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Sales tax and excise duty | Â | Â | 7,319,095 | Â | 6,131,935 | Â | 2,746,332 | Â | 2,211,306 | |||
Less: Rebates and commission | Â | Â | 453,413 | Â | 519,896 | Â | 170,846 | Â | 161,936 | |||
 |  |  |  |  |  | 7,772,508 |  | 6,651,831 |  | 2,917,178 |  | 2,373,242 |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | Â | Â | Â | Â | 33,487,315 | Â | 33,148,682 | Â | 11,645,314 | Â | 11,738,967 | |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | Â | Â | Â | Â (17,593,771) | Â | (18,473,137) | Â | (5,960,882) | Â | (6,340,283) | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Gross profit | Â | Â | Â | 15,893,544 | Â | 14,675,545 | Â | 5,684,432 | Â | 5,398,684 | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Distribution cost | Â | Â | Â | (1,543,315) | Â | (2,529,952) | Â | (479,060) | Â | (782,681) | ||
Administrative expenses | Â | Â | (827,365) | Â | (672,400) | Â | (247,969) | Â | (243,152) | |||
Finance costs | Â | Â | Â | (20,505) | Â | (19,342) | Â | (3,037) | Â | (6,436) | ||
Other charges | Â | Â | Â | (1,125,052) | Â | (995,286) | Â | (417,867) | Â | (348,833) | ||
Other income | Â | Â | Â | 1,017,819 | Â | 911,554 | Â | 356,643 | Â | 295,073 | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Profit before taxation | Â | Â | 13,395,126 | Â | 11,370,119 | Â | 4,893,142 | Â | 4,312,655 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Taxation: | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | |
-current | Â | Â | (3,324,517) | Â | (1,673,750) | Â | (1,289,455) | Â | (201,798) | |||
-deferred | Â | Â |
(456,403) | Â | (393,471) | Â | (244,420) | Â | (409,253) | |||
 |  |  |  |  |  |
(3,780,920) | Â | (2,067,221) | Â | (1,533,875) | Â |
(611,051) |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Profit after taxation | Â | Â | 9,614,206 | Â | 9,302,898 | Â | 3,359,267 | Â | 3,701,604 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income for the period | Â | Â |
- | Â |
- | Â |
- | Â | - | |||
Total comprehensive income for the period | Â | Â | 9,614,206 | Â | 9,302,898 | Â | 3,359,267 | Â | 3,701,604 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
 |  |  |  |  |  | (Rupees) |  |  (Rupees) | ||||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings per share - basic and diluted | Â | Â | Â 29.73 | Â |
28.77 | Â |
10.39 | Â | Â 11.45 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
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Condensed Interim Consolidated Profit and Loss Account | ||||||||||||
 For the 3rd quarter and nine months ended March 31, 2016 (Un-audited) | ||||||||||||
 |  |  |  |  |  |  |  |  |  |  |  |  |
 |  |  |  |  |  | Nine Months Ended |  | Quarter Ended | ||||
 |  |  |  |  |  | March 31, |  | March 31, |  | March 31, |  | March 31, |
 |  |  |  |  |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
 |  |  |  |  |  |  (Rupees in'000') |  |  |  |  | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Gross sales | Â | Â | Â | 72,878,144 | Â | 71,545,266 | Â | 25,312,147 | Â | 24,148,772 | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Less: Sales tax and excise duty | Â | 9,537,683 | Â | 8,129,551 | Â | 3,509,795 | Â | 2,869,264 | ||||
Less: Rebates and commission | Â | 2,565,749 | Â | 2,273,042 | Â | 917,410 | Â | 716,177 | ||||
 |  |  |  |  |  | 12,103,432 |  | 10,402,593 |  | 4,427,205 |  | 3,585,441 |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | Â | Â | Â | Â | 60,774,712 | Â | 61,142,673 | Â | 20,884,942 | Â | 20,563,331 | |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | Â | Â | Â | (40,391,732) | Â | (42,487,017) | Â | (13,642,561) | Â | (13,958,336) | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Gross profit | Â | Â | Â | 20,382,980 | Â | 18,655,656 | Â | 7,242,381 | Â | 6,604,995 | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Distribution costs | Â | Â | (2,898,297) | Â | (3,617,357) | Â | (941,057) | Â | (1,155,902) | |||
Administrative expenses | Â | Â | (1,518,837) | Â | Â (1,404,676) | Â | (474,562) | Â | (513,176) | |||
Finance costs | Â | Â | Â | (669,405) | Â | (866,454) | Â | (188,739) | Â | (255,268) | ||
Other expenses | Â | Â | Â | (1,339,315) | Â | (1,170,233) | Â | (491,255) | Â |
(400,816) | ||
 Other income |  |  |  | 1,985,925 |  | 1,697,245 |  | 700,993 |  |
633,817 | ||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Profit before taxation | Â | Â | 15,943,051 | Â | 13,294,181 | Â | 5,847,761 | Â | 4,913,650 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Taxation | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | Â | |
 |  current |  |  |  |
(3,899,151) | Â | (2,070,136) | Â |
(1,514,594) | Â | (149,644) | |
| Â deferred | Â | Â | Â |
(234,147) | Â | (292,271) | Â |
(177,098) | Â | (494,713) | |
 |  |  |  |  |  |
(4,133,298) | Â |
(2,362,407) | Â |
(1,691,692) | Â | (644,357) |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Profit after taxation | Â | Â | 11,809,753 | Â | 10,931,774 | Â | 4,156,069 | Â | 4,269,293 | |||
Attributable to: | Â | Â | Â | Â | Â | Â | Â | Â | Â | |||
Owners of the Holding Company | Â | Â | 11,031,884 | Â | 10,296,689 | Â | 3,862,416 | Â |
4,027,795 | |||
Non-controlling interests | Â | Â | 777,869 | Â | 635,085 | Â | 293,653 | Â | 241,498 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Total comprehensive income for the period | Â | Â | 11,809,753 | Â | 10,931,774 | Â |
4,156,069 | Â |
4,269,293 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income for the period | Â | Â | Â | Â | Â | Â | Â | Â | Â | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange differences on translation of foreign operations | 144,691 | Â | 73,427 | Â | 1,432 | Â |
68,505 | |||||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Items to be reclassified to profit or loss in subsequent periods: | Â | Â | Â | Â | Â | Â | Â | |||||
Loss on hedge during the period | (2,285) | Â | - | Â | - | Â | - | |||||
Income tax relating to hedging reserve |
731 | Â |
1,321 | Â |
- | Â | Â 1,321 | |||||
 |  |  |  |  |  | (1,554) |  | 1,321 |  | - |  | 1,321 |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Adjustments for amounts transferred to initial carrying amounts of hedged item - capital work-in-progress | Â | Â | Â | Â | Â | Â | Â | Â | ||||
 |
 1,554 |  | - |  |
 - |  | - | |||||
 |  |  |  |  |  |  |  |  |  |  |  |  |
 |  |  |  |  |  | 11,954,444 |  | 11,006,522 |  | 4,157,501 |  |
4,339,119 |
 |  |  |  |  |  |  |  |  |  |  |  |  |
Attributable to: | Â | Â | Â | Â | Â | Â | Â | Â | Â | |||
Owners of the Holding Company | Â | Â | 11,176,575 | Â | 10,370,861 | Â | 3,863,848 | Â |
4,097,045 | |||
Non-controlling interests | Â | Â | 777,869 | Â | 635,661 | Â | 293,653 | Â |
242,074 | |||
 |  |  |  |  |  |  |  |  |  |  |  |  |
 |  |  |  |  |  | 11,954,444 |  | 11,006,522 |  | 4,157,501 |  |
4,339,119 |
 |  |  |  |  |  |  |  |  |  |  |  |  |
 |  |  |  |  |  |  (Rupees) |  |  (Rupees) | ||||
 |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings per share - basic and diluted | Â | Â | 34.11 | Â | 31.84 | Â | 11.94 | Â |
12.46 |
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