A massive turnaround for Admore Gas (Private) Limited was planned and successfully executed in 2016, which included induction of highly qualified and experienced staff, optimization and development of retail outlet network and the supply chain, upgradation of existing storages, construction of new storage facilities and improved financial management.
As a result, Admore Gas (Private) Limited displayed phenomenal growth in 2016, achieving a volume growth of a highly impressive 461 percent, as the 2016 volumes grew to 174,000 metric tons as against 31,000 metric tons for the year 2015. Furthermore, in less than a year, Admore paid close to Rs 1 billion out of total defaulted legacy liabilities of Rs 2 billion, thereby clearing half its financial liabilities in a very short period of time.
The company also undertook major capital expenditure to comprehensively build its storage capacity in the north and south regions of the country. It has extensively upgraded its Machike storage terminal in the Punjab and is currently building its own storage facility at Daulatpur, Sindh, to cater to the retail network requirements in Upper Sindh and Balochistan.
The Daulatpur facility is scheduled for completion by January 31, 2017, the facility will have storage capacity of 3,200 metric tons with additional expansion capacity in future. "We have achieved many vital milestones this year, due to the Admore team's dedicated efforts and our firm commitment to operational excellence", Nadeem Jafarey, CEO Admore said.
"I am certain that as we continue to consistently implement our comprehensive development plans, we are fully geared to meet our business objectives and reach even greater heights in the coming year."
Admore plans to begin the New Year on a high note, and launch a complete 'brand refresh' on January 01, 2017, to reflect its new progressive outlook and updated identity. This endeavor will effectively communicate the Company's evolved brand vision, and provide greater value and a superior brand experience to its customers and stakeholders. The brand refresh includes the introduction of highly modernized and sophisticated branding material and equipment, which encompasses a brand-new visually aesthetic logo, an innovative look and design for the retail network and the launch of a new customer-centric Admore website, newsletter and social media.
The modernized look and design will be launched at 10 to 15 retail outlets spread nationwide, which will later be progressively introduced throughout the 450-plus Admore retail sites over a period of time. The 'brand refresh' endeavor highlights Admore's firm commitment to its core values of 'Ingenuity' and 'High Performance'. Admore is focused on achieving sustainable growth in Pakistan through continuous efforts to provide world-class products and services to customers and building strong relationships with all stakeholders in the industry.
Comments
Comments are closed.