Lahore, November 21, 2014 (PPI-OT): The senior management of Hascol Petroleum Ltd, Chairman Hascol – Mr. Mumtaz Khan, Director Hascol Petroleum Ltd, Mr. Liaqat Ali and Northern Regional Manager, Mr. Shehryar Afzal along with the team visited the Lahore Stock Exchange to participate in the Corporate Briefing Program.
CBP is an interactive program initiated by the Lahore Stock Exchange under the Corporate Communications Department to encourage companies to come forward and share their financials and non financial projects before the members, TREC Holders, investors and the media to abridge the communication gap between the listed companies and the market participants.
While congratulating the investors, Mr. Liaqat shared that HPL has acquired 12.4% A class shares of Pakistan Refinery Limited. He also shared that the company is expanding its Storage facilities across Pakistan, currently; the two company-owned storage projects have been initiated at Mehmoodkot, Muzaffargarh and Daulatpur, Sindh.
HPL is amongst the top five OMC’s in Pakistan by market share. He also shared that HPL has a network of 234 retail outlets spread across Pakistan including Azad Jammu and Kashmir. The Company plans to increase these to 350 by the end of 2016. Mr. Liaqat while sharing HPL’s financial performance informed that the profitability of the company has been on an upward trajectory compared to last year.
HPL has witnessed all time increase in the volumes of its entire product range comprising High Speed Diesel, Motor Gasoline, High Sulphur Furnace Oil, Lubricants and Liquefied Petroleum Gas, ensured to the soaring volumes in the products, HPL has experienced more than 70% increase in the total volume as compared to the last year. Mr. Liaqat expressed that given the consistent growth of the company in a short period of time, HPL forecasts to touch Rs 100 billion turnover by the end of the year.
During the interactive session, Investors paid a special note of thanks to the Chairman HPL- Mr. Mumtaz Hasan Khan for participating in the Corporate Briefing Program and addressing to their concerns on a personal level and also applauded the management of Lahore Stock Exchange for inviting the senior management of the listed companies on timely basis to share their companies information of utmost importance under the Corporate Briefing Program.
Mr. Aftab A. Ch, the MD of LSE stated that the start of the CBP is yet another fulfillment of the corporate social responsibility agenda of the Exchange. He said that CBP has been started to create more awareness about the companies in the general investors and to also enable the companies to fulfil their investor relations obligations. He urged all listed corporations to make use of the CBP opportunity to create a strong bond with their investors.
He said that such regular communication with the investors would help the companies in their capital structure planning as the companies would be able to assess the mood of the investors and plan further capital raising through secondary public offering or the right shares. He stressed that LSE considers it essential for the companies to participate in such programs so that there is no information asymmetry regarding our listed companies.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan