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AKD Securities Limited – PTC: 1QCY15F Result Preview

Karachi, April 14, 2015 (PPI-OT): After a disappointing CY14, AKD Securities Limited believes PTC is all set to make a comeback in CY15F particularly in the absence of one-off cost side pressures (VSS and fire-losses). However, on the core business front, AKD Securities Limited expects recovery to remain soft on account of 1) stiffening competition ...

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AKD Securities Limited – Crumbling coal to further cream cement players’ margins

Karachi, April 10, 2015 (PPI-OT): Owing to faltering demand (Chinese consumption down), which has created somewhat of an oversupply situation, resultantly, global coal prices have been under-pressure in CY15TD (Richard’s bay down 12.3%CY15TD to US$58.0/ton while Newcastle down 12.8%CY15TD to US$55/ton). That said, with coal constituting a significant proportion of manufacturing cost for cement sector, ...

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AKD Securities Limited – HUBC: Lucrative potential entices quick draw

Karachi, April 06, 2015 (PPI-OT): HUBC’s detailed results for the 1HFY15 reveal marked improvement in profitability (driven by reduced overhaul expenses and low RFO prices), coupled with healthier cash flows (OCF: PkR11.4mn). Going forward, with O and M savings highly likely (post-2016) and additional synergies to be capitalized upon the completion of various coal based ...

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