Building materials on the up

Danube reveals 70% increase in 2008 sales revenue

Smooth sailing despite the turbulent economy, Danube Building Materials saw sales revenues of AED 1.1 billion in 2008, an increase of 70% in the company’s annual earnings, and the company is positive that it can weather the current global recession in 2009.

Not satisfied in merely keeping afloat this year, the company is aiming for a 30% increase in annual revenue for 2009, and in line with this growth, Danube is in the process of recruiting new employees for a variety of positions across its offices in the GCC.

“In spite of the recession, we aim to maintain a healthy growth in 2009 with the strong fundamentals we have acquired through the continuous operations of more than 18 Danube outlets across the GCC,” said Rizwan Sajan, chairman of Danube Building Materials.

Story continues below

Advertisement

FEATURED COMMENT Please click here to comment on this article

Danube’s plans for 2009 include expanding its business by inaugurating its two Buildings Material Marts in Ras Al Khaimah and Bahrain, as well as a new fully-equipped shop in KSA. Despite the global economic downturn, Danube emphasises that the Middle East has great growth potential in the construction sector and is keen to fulfill the growing demand for key products such as steel, MDFs, laminates, timber, glass, aluminium and other materials.

Among Danube’s products that had the most intensive promotional activities and gained the highest sales during 2008 were its wood offerings, including medium density fibre boards and plywood, as well as sanitary, hardware and steel items.