Ducab hits record $1.34 billion sales in 2011

Ducab has announced record sales of US$1.34 billion (AED 4.9bn) for 2011, representing a 39% increase over the previous year. Significant areas of growth included 25% higher sales to the Utilities sector and a record 250% increase in sales to the oil, gas and petrochemical sector.

Commenting on the results, Ahmad Al Shaikh, Chairman of Ducab, said: “Our success in 2011 was the result of successful expansions and addition of new product ranges, and managing our financials. We have ventured into new sectors and markets within different regions, and repaid by due dates loans of $64 million, as well as paying dividend to our shareholders. Our shareholders equity also increased by $37.6 million by the end of last year.”

“As a privately held concern, we are under no obligation to file detailed financial results, but I must stress that our underlying profitability has doubled in 2011 as compared to 2010, which is a huge achievement for Ducab,” he added.