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