Karachi, October 23, 2023 : Following the meeting of the Board of Directors, Lucky Core Industries Limited (the “Company”) announced its financial results for the quarter ended September 30, 2023.
Financial Highlights
On a consolidated basis, Net Turnover for the quarter under review from continuing operations
under review at PKR 28,994 million is higher by 19% over the same period last year (SPLY).
- The consolidated Operating Result from continuing operations stood at PKR 4,134 million, which is
higher by 32% in comparison to the SPLY. - On a consolidated basis, Profit After Tax (PAT) for the quarter at PKR 2,537 million is 31% higher
than the SPLY, whereas Earning Per Share (EPS) attributable to the owners of the holding
company at PKR 27.48 is 41% higher than the SPLY, mainly owing to improved operating
performance. - On a standalone basis, PAT and EPS for the quarter under review at PKR 2,513 million and PKR
27.21 respectively are 31% higher than the SPLY, primarily on account of higher Operating Results,
exchange gain, and other income resulting from dividend income of PKR 646 million derived from
the short-term investments.
Following the announcements of results, LCI’s Chief Executive Mr. Asif Jooma said “The current global
and domestic landscape pose continuing challenges for business operations, on account of higher costs
due to inflationary pressures, volatile exchange rates, an elevated tax incidence, high interest rates, and
an uncertain demand outlook. Though there was some respite in the form of easing import restrictions,
the prolonged monetary tightening measures have negatively impacted the consumers’ purchasing
power resulting in a significant demand compression across all segments of the economy. Navigating
these challenges, LCI continues to maintain a focus on its mission of Improving Lives and contributing
positively to benefit stakeholders during this difficult period.”
Safe Harbor Statement This press release may contain statements, which address such key issues as Lucky Core Industries’ growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be
understood that many factors could cause forecasted and actual results to differ from these statements. These factors include but are not limited to,price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues,
and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialised external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest Annual
Report, a copy of which can be found on the Company’s corporate website www.luckycore.com.
About Lucky Core Industries Limited:
Lucky Core Industries Limited is a leading Pakistan-based manufacturing and trading company consisting of diverse businesses:
Polyester, Soda Ash, Chemicals, Agri Sciences, Pharmaceuticals and Animal Health. Through these businesses, the Company
manufactures and trades in a wide range of products including polyester staple fibre (PSF), soda ash, general and specialty chemicals,
pharmaceuticals, nutraceuticals, animal health products and agricultural products (including chemicals, field crop seeds, vegetable seeds
and more). In the nutrition segment, the Company’s associated company, NutriCo Morinaga (Private) Limited locally manufactures,
imports, markets, and distributes Morinaga Milk Industry Co. Ltd, Japan products in Pakistan.
Lucky Core Industries Limited is part of the Yunus Brothers Group (YBG), one of the fastest-growing and most progressive Pakistani
conglomerates with a wide portfolio of businesses including, but not limited to: cement, textiles, power generation and commodity trading.
For more information please visit: www.luckycore.com
