Danube posts $544m turnover
Dubai, March 24, 2014
Danube Group, a leading construction and home interior company in the UAE, posted Dh2 billion ($544.3 million) in sales revenue last year.
The company reported a 17 per cent growth in the last six months and will record a 15 to 20 per cent increase even in 2014, with a revenue forecast of Dh2.5 billion in the current year, said a statement.
It attributes the increase in revenue and profitability to higher product sales and increased number of transactions across mega projects in the UAE and the Middle East.
The company has also emphasised on optimisation of resource use and maximising productivity apart from contributing to economic growth by creating new jobs.
"2014 is an important year for us. We will grow our retail base with the opening of 10 new showrooms across the region. This will include six medium- sized showrooms while four of them will be invariably massive," said Rizwan Sajan, founder and chairman.
Additionally, there is a strong pipeline of projects under development across the residential, retail, leisure and hospitality sectors which have also been one of the major drivers for Danube’s growth in the region, said the statement.
About 40 per cent of business revenues are solely from the UAE, while 30 per cent comprise Saudi Arabia, 20 per cent Oman and 10 per cent from other markets, it said.
Based on the current uptrend in its overall growth and amid the rapid expansion of the construction industry in the region, Danube will soon establish a Dh20 million cut-and-bend plant in Saudi Arabia.
“Our vision as leaders in the industry is to cater to the requirements of our customers and maximise our inputs to further boost our market position by enhancing our product line,” said Sajan.
The company has also planned to venture into new businesses with real estate and property development, being the core areas. - TradeArabia News Service