LAHORE: Lafarge Pakistan Cement Limited senior management here Monday participated in the Corporate Briefing Programme (CBP) initiated by Lahore Stock Exchange's Communication Department to encourage companies to share their financials and non-financial projects before the members, TREC Holders, investors and media to abridge communicational gap between listed companies and the market participants. On this occasion, the Company Secretary Waseem A. Malik and Chief Financial Officer Bilal Hamid highlighted financial performance of the company.
Waseem Malik termed energy shortage as one of the biggest challenges faced by industrial sector, adding that Lafarge Pakistan had already pursued rental power to meet its continuous production process to maintain output. He said that increase in export and local price as well as local demand of cement had shown growth in the sector, which had shown good financial results compared to last year, yet increasing costs especially power and fuel remained a challenge.
Bilal Hamid said the company was in process of diversifying its product portfolio by introducing a new construction solution product before year end.
While, the LSE Manager Corporate Communications Ms. Maryam Baqir stated that purpose of the CBP was to provide an opportunity to companies to brief investors and the broker community on thier updated operational, financial and strategic position.
She expressed that an opportunity of periodical communication through this programme would enable the companies to create a strong investors following, besides, providing them an opportunity to gain first-hand knowledge from a company's management.
The LSE considered it essential for the companies to participate in such programmes so that there was no information asymmetry regarding our listed companies.
She said the CBP aimed to enhance investor's understanding of financial statements, company's short and long term projects, which might affect company's share price and ultimately impact their investments as well as investment decisions.
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