UAE – Mubasher: Ducab Group, one of the UAE’s largest provider of copper and aluminium, announced a 5% rise in its profits for 2019 on an annual basis.
The increase in profits is driven by the strong performance of the group’s metal and cable manufacturing companies, according to a press release on Monday.
The group’s sales of copper and aluminium exceeded AED 2 billion last year, with more than 75% of the production being exported.
Exporting 60% of its output across the world, the group has the capacity to produce more than 115,000 metal tonnes of high, medium, and low-voltage cable solutions, 175,000 tonnes of copper rod and wire annually, and 50,000 tonnes of aluminium rod and overhead conductors per year.
As part of its strong performance, the group, which has six manufacturing facilities across the UAE, has supplied the soon-to-start Barakah nuclear power plant with caples.
Moreover, Ducab announced in 2019 that it will provide 90% of Expo 2020 project’s cable requirements.
The chairman of Ducab, Ahmad bin Hassan Al Shaikh, said: “Ducab’s 40th anniversary of operations saw our position as a leading manufacturer in the UAE solidified through a strong commitment to both the local and international markets.”
Commenting on the impact of the coronavirus (COVID-19) on the group, Al Shaikh remarked: “Ducab factories are all operating and there have been no significant interruptions in the company’s supply chain due to COVID-19.”