Lucky Cement in Pakistan reported a 5% year-on-year growth in net profit for the quarter to September 2014, reaching PKR 2.55 billion (€19.84 million/US$24.82 million) with earnings per share of PKR 8.62.
Revenue was up 12% to PKR 10.47 billion, but gross margin dropped three percentage points to 42%. Sale volumes and prices were higher than in the year-ago period at +6% to 1.61 million tonnes and +8% to PKR 525 per bag respectively, but lower than in the preceding quarter or forecasts for the current period.
Other income jumped 50% to PKR 332 million as the strong cash balance of PKR 9 billion generated significant treasury income.
The higher gas tariff and Gas Infrastructure Development Cess (GIDC) increased operating costs.
