Pakistan: Lucky Cement disclosed a decrease in profit for the third quarter of the 2024 financial year, due to shrinking gross margins and a fall in cement sales, according to Pakistan Press International. The company's unconsolidated earnings decreased by 27% from the previous quarter. Gross margins narrowed from 36% to 28.8%, impacted by higher coal prices, increased power costs and a shift towards clinker exports which resulted in a 10% quarterly drop in cement sales volumes. Overall revenue declined to U$98.7m. Despite this, Lucky Cement's earnings over the first nine months of the fiscal year 2024 have grown by 67% year-on-year, supported by higher gross margins and increased income from higher interest rates and dividends from Lucky Cement Investments.
Lucky Cement reports a decline in profit in third quarter of 2024
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