Ducab Group, UAE’s one of the leading industrial manufacturing house, has declared gross profitability for H1 of 2020. The company has succeeded to maintain as compared to the same period of the previous year, due to the pliability of its diversified cables and metals business with all manufacturing based in the UAE. Overall sales of AED 2.2 billion reported for the period.
While commenting on the company’s performance, Dr Ahmad Bin Hassan Al Shaikh, Chairman of Ducab, said: “The current COVID-19 pandemic has tested businesses around the world—including the manufacturing sector. Resilience and business continuity have been the cornerstones of Ducab’s strategy, supported by strong supply chain partners and the deep commitment from each member of the team.”
“Ducab cables and metals businesses have thus remained profitable during an extremely challenging time. All of this has been possible while upholding stringent health and safety standards, ensuring that customer service remains unimpeded. Prudent financial management and effective cost control measures across all business areas enabled the group to partially offset the effects of margin pressures. Moreover, strong cash flows allowed debt levels to reduce in the core business, a result of which Ducab has brought down the total borrowings by an impressive 43% compared to the levels in H1 2019.”
Ducab Aluminium Company (DAC), also posted an impressive performance, having increased its supply of aluminium rods and overhead conductors to global customers by more than 2%, compared to the same period last year, keeping the Abu Dhabi based plant running flat out as a result of this demand.
Jointly owned by ADQ through Senaat and ICD, with six manufacturing facilities across four sites in the UAE, presently Ducab group has a manufacturing capability of over 115,000 metal tonnes of high, medium, and low-voltage cable solutions, complemented by 55,000 tonnes per annum of aluminium rod and overhead conductor.
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