Danube 2011 revenue jumps 25pc; hits $422m
Dubai, January 15, 2012
Danube Building Materials, a leader in construction, building materials and shop fitting industries, has posted revenues of Dh1.55 billion ($422 million) in 2011, marking a rise of 25 per cent over the income figures for 2010.
The increase brings the company one step closer towards achieving a revenue target of $1 billion by the year 2015, a statement said.
Last year, the company embarked on a Dh200 million expansion initiative, which has resulted in the opening of four new branches in the UAE, two in India and Oman, one in both Saudi Arabia and Bahrain. 2011 was also marked with the inauguration of the company’s first showroom in Qatar and Salalah, Oman.
Danube also opened a new melamine factory in Saudi Arabia and a new warehousing facility in the Jebel Ali Freezone (Jafza). Aiming to maintain continued growth in 2012, the company has announced the planned opening of ten more retail showrooms within the GCC.
“2011 was truly a landmark year for Danube as the move to expand has not only consolidated our regional leadership in the building materials segment but has also driven in a 25 per cent growth increase,” said Rizwan Sajan, founder and chairman, Danube.
“We are very confident that 2012 will bring in more growth for us as we continue to live up to our commitment to create a stronger market presence through the opening of more showrooms and the addition of more products and services to our broad portfolio.
“With the continuing influx of construction projects across the whole region, we remain steadfast in our promise to provide our customers with world class building materials and home interior products,” he added. – TradeArabia News Service