Lucky Cement profits surge 12.5pc

KARACHI: Lucky Cement Limited reported net profit of Rs7.04 billion for the half-year ended December 31, 2016, which is 12.5 percent higher than recorded during the same period of the last year.

Consequently, the earnings/share (EPS) for the half-year increased to Rs21.76 as compared to Rs19.34 reported during the same period of the last year. The company’s net sales increased 7.5 percent this year to Rs23.44 billion as compared to Rs21.81 billion during the same period of the last year.

The local sales volume of the company registered a growth of 23.2 percent to 2.98 million tons as compared to 2.42 million tons reported during the same period of the last year, whereas export sales volume registered a decline of 16.3 percent to 0.75 million tons as compared to 0.90 million tons during the same period of the last year.

On a consolidated basis, Lucky Cement reported net profits of Rs8.12 billion for the half-year ended December 31, 2016, which is 13.3 percent higher as compared to the same period of the last year.

Lucky Cement also reported progress on its key foreign and local projects, ie, fully-integrated cement manufacturing plant in the Democratic Republic of Congo, brown field expansion in cement grinding unit in Iraq, fully-integrated greenfield cement manufacturing plant in Punjab, brown field expansion (installation of new production line) at Karachi plant, 1X660MW, supercritical, coal-based power project at Port Qasim and 10MW WHR Plant (Kiln) at Pezu Plant.

 

Profits of Hinopak decline

Hinopak Motors Limited has announced net profits of Rs815.571 million for the nine-month period ended December 31, 2016, which is marginally down from the profits of Rs820.99 million posted during the same period of the last year.

The earnings/share (EPS) for the period under review stood at Rs65.77 as compared to the EPS of Rs66.21 during the same period of the last year.

The net sales stood at Rs16.527 billion as against the sales of Rs12.06 billion last year.

The company did not announce any payouts along with the financial results.

 

Bank Al-Habib earnings increase 10pc

Bank Al-Habib has announced net profits of Rs8.119 billion, translating into the earnings/share (EPS) of Rs7.31 for the year ended December 31, 2016.

The earnings registered an increase of 10 percent, as the bank had posted net profits of Rs7.405 billion and the EPS of Rs6.66 for 2015.

The result came higher than the market expectations, as the bank booked capital gains worth Rs660 million during the last quarter of 2016.

Along with the result, the bank also announced its annual dividend of Rs3.50/share.

The Net Interest Income (NII) clocked in at Rs24.672 billion, one percent lower during 2016, as spreads witnessed a dip during the year.  Non-Interest Income stood at Rs5.052 billion in 2016, which was driven by hefty capital gains and growth in fee income.

 

Honda Atlas Cars profits jump 65pc

Profit of Honda Atlas Cars (HCAR) surged 65 percent to Rs4.0154 billion for the nine-month period ended December 31, 2016, translating into earnings per share (EPS), a bourse filing said on Thursday.  

Honda earned profit of Rs2.423 billion during the same period last year with an EPS of Rs16.97.

For the quarter ended December 31, 2016, the company posted profit of Rs1.492 billion and EPS of Rs10.45.

Analyst Hashim Sohail at Topline Securities said HCAR’s net sales grew 128 percent year-on-year in the third quarter (October-December) of 2016/17 on account of strong growth in sales volumes during the period, with Honda Civic (higher priced car) capturing more of the sales mix, 

The company sold a total of 8,512 units during the third quarter, up 92 percent year-on-year. 

In 9MFY17, total sales stood at 23,755 units, up 33 percent.

“This is mainly attributable to strong interest in 10th Generation of Honda Civic,” Sohail said. “In 3QFY17, other operating income compounded four times mainly due to healthy bookings for the new Civic.”   

Sohail said unfavorable movement in exchange rate and commodity prices, possible permission to used car imports, lower than expected demand for 10th generation Civic and disruptions in operations of principal company are the potential risks.