Ducab sales hit AED 4.9bn in 2011
Dubai power cable manufacturer Ducab has credited “successful expansions” new products and strong financial management for its record sales in 2011. At AED 4.9bn, sales increased 39% on 2010, with a 250% increase in sales to the oil, gas and petrochemical sector. “Our success in 2011 was the result of successful expansions and addition of […]
Dubai power cable manufacturer Ducab has credited “successful expansions” new products and strong financial management for its record sales in 2011. At AED 4.9bn, sales increased 39% on 2010, with a 250% increase in sales to the oil, gas and petrochemical sector.
“Our success in 2011 was the result of successful expansions and addition of new product ranges, and managing our financials,” said chairman, Ahmad Al Shaikh. “We have ventured into new sectors and markets within different regions, and repaid by due dates loans of AED 235mn, as well as paying dividend to our shareholders.
Our shareholders equity also increased by AED 138mn by the end of last year,” he added. The decision was taken to publicise the private company’s results in light of the achievement made.
“Last year was a challenging period worldwide. However, we were able to complete H1 with good results which continued as well in H2 to round up a very successful 2011. UAE National Development continues to be a core focus with 40% of senior management and 18% of white collar staff positions held by UAE Nationals,” he continued. Last year also saw the inauguration of Ducab HV, an AED 500m JV high voltage cable plant, in Jebel Ali, Dubai.
