KARACHI: Lucky Cement posted unconsolidated PAT at Rs3.34bn for FY20 that translated into EPS at Rs10.34, down 68pc from PAT at Rs10.49bn and EPS Rs32.44 the previous year.

The board did not announce a dividend against Rs6.50 per share paid in FY19. The company skipped the payout given the recent diversification and expansion, including installation of 2.8 million tonnes per annum line in Pezu (operational since in December 2019) at an outlay of Rs20.2bn, equity contribution in Kia Lucky Motors of Rs12.87bn in FY18 and FY19, as well as outlay of Rs19.45bn since FY18TD in the crucial Lucky electric power project.

The company said in a statement that with regards to standalone performance, Lucky’s gross sales revenue decreased 7.8pc to Rs62.30bn as compared to Rs67.55bn last year.

“This was mainly due to lower domestic selling prices during the year. Moreover, the increase in input costs in addition to higher transportation costs and the impact of lockdowns due to Covid-19 also adversely impacted the earnings,” it observed.

Unilever Foods profits jump 81pc

Unilever Pakistan Foods Limited (UPFL) on Tuesday reported profit-after-tax of Rs1.76 billion for the six months ending June 30, up 81 per cent from Rs953 million during the same period last year.

The company’s earnings per share were Rs271.01 against Rs149.63 reported in the aforementioned period.

Unilever’s sales improved by 17.36pc to Rs7.67bn from Rs6.53bn during the same period last year.

The company’s board of directors recommended a second interim cash dividend of Rs141.

Standard Chartered earnings surge

Standard Chartered Bank (Pakistan) declared profit after tax of Rs9.85 billion for the six months ended June 30, translating into earnings per share of Rs2.54.

This represented a jump of 36 per cent over net income of Rs7.23bn and EPS of Rs1.87.

For 2QCY20, PAT was recorded at Rs4.54bn (EPS: Rs1.17), up 22pc from Rs3.71bn (EPS: Rs0.96) in same period last year.

This represented a jump of 22 per cent over net income of Rs3.71bn in same period of 2019 and EPS at Rs0.96.

Published in Dawn, August 26th, 2020