Arif Habib Limited (AHL) has arranged an Investors' Conference with the top management of Lucky Cement Limited at a local hotel here on Thursday. The CEO of Lucky Cement Limited Muhammad Ali Tabba presented a brief update on company's financials, operations, future plans and overall sector dynamics. A large number of investors were present in the conference including representatives of banks, asset managements, insurance companies, corporate and High Net worth Individuals.
Jawaid Iqbal, CFA-President of CFA Pakistan-was the chief guest of the ceremony. Muhammad Ali Tabba highlighted that the cement industry has been facing problems due to rising cost of sales, which lead to many cement companies incurring losses during this fiscal year. He said "Lucky Cement was able to perform better due to advantage of lowest cost operator and potential to export its produce."
He said cost saving measures like Waste Heat Recovery Plants and owned transportation facilities were pivotal in reducing costs. He declared that the Revised Derived Fuel (RDF) is expected to come online before December 2011. He pointed out that the Company would be selling 20MW of electricity to HESCO, which would bring diversification to the revenue base of the Company. He further added,
"due to healthy balance sheet position with minimal debt, Lucky cement has the capability to go for brown field expansion not only in the Pakistan but also abroad." "Arif Habib Limited is delighted to arrange the Investors' Conference on Lucky Cement Limited. This is our third conference in this year so far. We believe that it is a good way to connect investors and companies' management. We are thankful to the management of Lucky Cement which have taken their time and appraised us with valuable information on the Company and the industry," said Bilal Moti, CEO of Arif Habib Limited.
AHL is a leading public listed financial services company, offering brokerage and corporate finance services to a large community of clients. It is 75 percent owned subsidiary of Arif Habib Corporation, the flagship of Arif Habib Group.-PR
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