Al Abbas Cement announces name change, Pakistan

Pakistan-based producer Al Abbas Cement has officially changed its name to Power Cement, the company informed the Karachi Stock Exchange yesterday.

The company operates a cement plant in Nooriabad, Dadu, with a clinker and cement capacity of 0.9Mta and 0.95Mta, respectively.

According to its half-yearly report (July-December 2012) it has reduced accumulated losses from PKR2.184m as at the end of December 2011 to PKR1.412m at the end of 2012. Gross profit increased by PKR144.549m compared to the same six months of the year before.

During the six months ended 31 December 2012, the company produced 271,471t of clinker and 247,673t of cement compared to production of 234,599t of clinker and 227,399t of cement during the corresponding period of last year. This translates to an increase of 15.72 per cent and 8.92 per cent in the production of clinker and cement, respectively. Dispatches increased by 9.08 per cent to 253,886t compared to 232,75t in the same period of last year. The local to export ratio remained unchanged compared to last year’s ratio of 83:17 per cent.