Lucky Cement profits and foreign projects double By Our Correspondent Published: April 27, 2012 Manufacturer plans to buy a 13.8% equity stake in Yunus Energy Limited for $4 million. The company plans to set up 50MW wind farm in Jhimpir, Thatta. KARACHI: Lucky Cement has managed to increase its profit by 90% to Rs4.69 billion in the current financial year despite production levels staying at the same levels as last year. The astounding boost was solely driven by selling prices which surged 25% to Rs425 per bag against Rs339 per bag in the same period last year, said Summit Capital analyst Sarfraz Abbasi. Lucky Cement even outpaced its fellow peers when it came to increasing prices, said another analyst who requested anonymity. The massive increase has been beneficial for the industry, however, it has sparked a debate among builders who question the legitimacy behind the hikes. Association of Builders and Developers of Pakistan on Th...
Muhammad Sarfaraz Abbasi is a Pakistani financial services industry professional. He has been associated Atlas Group, Summit Capital Markets and some other renowned institutions as an Investment analyst he also served National Investment Trust Limited (NIT) which is Pakistan’s largest state owned Asset Management Company. Sarfaraz is Mutual Funds, Private Equity and Venture Capital enthusiast can be reached via twitter @ImSarfrazAbbasi