Daily Archives: August 1, 2018

Board of directors meeting of Modaraba Al-Mali

Karachi, Modaraba Al-Maliinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 08, 2018 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 02, 2018 to August 08, 2018.

Modaraba Al-Mali is a multipurpose and perpetual Modaraba floated in Pakistan on July 8, 1987 under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980, and Modaraba Companies and Modaraba Rules, 1981 and is managed by BankIslamiModaraba Investments Limited, a company registered under the Companies Ordinance, 1984. It is engaged in the business of leasing, murabaha, musharaka financing, operation of petrol and diesel filling / service station. It is listed on Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. The registered office is situated at Karachi.

The symbol “MODAM” is being used by the stock exchange for the shares of Modaraba Al-Mali.

Board of directors meeting of Attock Refinery Limited

Karachi, Attock Refinery Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 14, 2018 at Dubai. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 02, 2018 to August 15, 2018.

Attock Refinery Limited was incorporated in Pakistan on November 8, 1978 as a private limited company and was converted into a public company on June 26, 1979. It is subsidiary of the Attock Oil Company Limited, UK and its ultimate parent is Bay View International Group S.A. The company is principally engaged in business of refining the crude oil. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The company is also registered with Central Depository Company of Pakistan Limited. Its registered office is situated at Rawalpindi.

The crude oil refining operations of the company date back to 1922 which amounts to more than 90 years of vast experience for the company. Several up gradation processes are in progress for the company which shall be completed by September 2015. The company is ISO 9001, ISO 14001, ISO/IEC 17025; OHSAS 18001 certified and is implementing ISO 50001 Energy Management System.

The symbol “ATRL” is being used by the stock exchanges for the shares of Attock Refinery Limited.

Board of directors meeting of Gulistan Spinning Mills Limited

Karachi, Gulistan Spinning Mills Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 07, 2018 at Lahore. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2017.

Further, the company has declared the closed period from August 01, 2018 to August 07, 2018.

Gulistan Spinning Mills Limited was incorporated on February 26, 1987 in Pakistan. The registered office of the company is located in Karachi. The company is engaged in manufacture and sale of yarn, fabrics, apparel and home textile. The manufacturing unit is located at district Kasur, Punjab. The shares of the company are quoted on Karachi and Lahore Stock Exchanges of Pakistan.

The symbol “GUSM” is being used by the stock exchange for the shares of Gulistan Spinning Mills Limited.

Board of directors meeting of Askari General Insurance Company Limited

Karachi, Askari General Insurance Company Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 16, 2018 at Rawalpindi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 09, 2018 to August 16, 2018.

Askari General Insurance Company Limited is a company incorporated in Pakistan on April 12, 1995 as a public limited company. The commercial operations of the company commenced from October 15, 1995. The foundations of the company are laid under the fundamentals of the Companies Ordinance, 1984. The company is engaged in the business of non-life insurance business comprising of fire, marine, motor, accident, health and miscellaneous. The insurance company has around 19 branches located across Pakistan. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located at Rawalpindi.

The company is sponsored by the Army Welfare Trust which is itself engaged in the business of finance, banking and production of consumer goods and service. The company apart from traditional coverage offers specialized coverage for various engineering risks.

The symbol “AGIC” is being used by the stock exchanges for the shares of Askari General Insurance Company Limited.

Board of directors meeting of Attock Petroleum Limited

Karachi, Attock Petroleum Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 14, 2018 at Dubai. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 02, 2018 to August 14, 2018.

Attock Petroleum Limited was incorporated in Pakistan as a public limited company on December 3, 1995. The company commenced its operations in 1998. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is procurement, storage and marketing of petroleum and related products. Pharon Investment Group Limited is the holding company and it holds 34.38% of the company. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Rawalpindi.

The symbol “APL” is being used by the stock Exchange for the shares of Attock Petroleum Limited.

Lucky Cement records consolidated earnings of PKR 14.82 billion for fiscal year ended June 30, 2018

Karachi, August 01, 2018 (PPI-OT): On a consolidated basis, Lucky Cement Limited reported net profit after tax of PKR 14.82 billion after taking out PKR 1.35 billion attributable to non-controlling interests for the financial year ended June 30, 2018, which translates into earnings per share (EPS) of PKR 45.83 / share as compared to PKR 50.18 / share reported last year. The Board of Directors proposed a final cash dividend of PKR ­­8.00 per share subject to approval of shareholders in the upcoming Annual General Meeting scheduled to be held on September 28, 2018. This proposed final cash dividend is in addition to the interim cash dividend of PKR 5.00 per share, as previously recommended by the Board of Directors for the financial year ended June 30, 2018.

On a consolidated basis, the Company achieved gross turnover of PKR 124.68 billion which is 13.6%higher as compared to last year’s turnover of PKR 109.80 billion.With regards to the Company’s standalone performance, the gross sales revenue of the Company increased by 9.4% to PKR 67.38 billion compared to PKR 61.60 billion reported last year. The increase in revenue was mainly due to higher volumes and increase in Federal Excise Duty and Sales Tax. Furthermore, Lucky Cement recorded net profit after tax of PKR 12.20 billion which is 10.9% lower as compared to last year. Similarly, the standalone EPS of the Company is PKR 37.72 / share which is 10.9% lower as compared to last year’s reported EPS of PKR 42.34 / share.

The local cement sales volume of the Company during the fiscal year registered a growth of 14.8%(North 18.1% and South 11.0%) to reach 6.63 million tons compared to 5.77 million tons reported last year, whereas, local clinker sales volumes declined by 80.1% to 0.06 million tons during the current financial year as compared to 0.30 million tons last year, resulting in the overall local sales growth of 10.2% to reach 6.69 million tons during the current financial year compared to 6.07 million tons last year; while export sales volume increased by 4.6% to 1.13 million tons compared to 1.08 million tons reported last year.

Lucky Cement also shared progress on its brownfield expansion for cement production of 2.6 million tons per annum at its Pezu Plant and the greenfield investment project for producing 1.2 million tons of clinker at Samawah, Iraq. In addition, the Company also reported progress on its investment projects of 1 X 660 MW supercritical coal based power project at Port Qasim and automobile manufacturing plant under license from Kia Motors Corporation.

Lucky Cement remains committed towards value-creation for the society in which it operates. In this regard, the Company extended numerous scholarships to deserving students for various leading universities in Pakistan and abroad. Keeping in view the importance and impact of womenempowerment in Pakistan, the Company in collaboration with Zindagi Trust continued its support for two leading Government girls’ schools in Karachi.

The company also continued to donate generously towards health-based initiatives by supporting various welfare organizations. Lucky Cement always takes its responsibility towards environment seriously and for continuous efforts to curtail carbon emissions in the atmosphere, Lucky Cement has a comprehensive air quality measurement program that enables it to identify the limits of pollutionparameters in the ambient air in and around its cement plants and all mentioned parameters are closely monitored and kept well below the respective limits as specified by the National Environment Quality Standards (NEQS).

For more information, contact:
Lucky Cement
6-A Muhammad Ali Housing Society,
A. Aziz Hashim Tabba Street,
Karachi-75350, Pakistan
UAN: (+92-21) 111-786-555
Fax: (+92-21) 34534302
Email: info@lucky-cement.com