Ducab posts record sales for H1 2011
50 per cent increase in sales revenue despite high copper prices
One of the Middle East’s largest cable manufacturers, Ducab, has announced its sales in H1 2011 have leaped by 50 per cent.
Record sales of $653m in the first six months of 2011 show a volume growth of more than 13 per cent, with sales of cables accounting for the bulk of revenue, and new copper products bringing up the balance.
“We are pleased with the results although market conditions remain very competitive and pricing still has a long way to go before margins are restored to reasonable levels. We are optimistic that these volumes are yet another positive sign that the UAE and regional economies are recovering,” said Andrew Shaw, managing director of Ducab.
Having announced recently that the firm would be branching out into extra high voltage cables of 400kv grade, a new facility is currently under construction as part of a deal with ADWEA and DEWA, in addition to the factories the company – a joint venture between Dubai and Abu Dhabi – currently occupies. The new factory is tipped to begin production later this year.