Danube sees 21pc jump in H1 revenue
Dubai, July 3, 2011
UAE-based Danube Building Materials said it has registered a 21 per cent growth in its revenue for the first half despite the global crisis owing to its strategic expansion initiative across and beyond the Middle East region.
The growth follows the company’s impressive 25 per cent rise in revenues during 2010 in spite of the global economic crisis and projects a similar growth in 2011, taking its revenues to $435 million, said a company statement.
Danube’s increase in business can be attributed to its provision of its building materials and home interiors combined with great value and special services.
The growth also marks the success of Danube’s move to implement a strategic expansion initiative across and beyond the Middle East region, it added.
The first half saw the opening of three new Danube Building Materials Showrooms in key locations that include the sanitaryware wholesale market of Sharjah; Al Dibba and in Saudi Arabia.
The company has also revealed its plans to continue with its expansion initiatives and is looking at opening 15 more branches in strategic locations across the Middle East by 2012.
Meanwhile, Danube said it retail arm Buildmart too has witnessed a surge in its revenues for the first half.
The leading retail facility, which has found success in its introduction of a ‘one-stop-shop’ concept for home interiors and furnishings, was able to key in 46 per cent growth in 2010 and continuing with a year-on-year growth that is expected to drive in a 30 to 40 per cent increase before the end of 2011.
On the revenue growth, Rizwan Sajan, chairman of Danube Building Materials said the H1 growth clearly shows that the company is on track to meet its target of $1 billion revenue by 2015.
"The increase in revenue has also given us the confidence to look forward in reaching $435 million by year end,” he added.-TradeArabia News Service
More Construction & Real Estate Stories
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum