Danube Group targets 15 to 20% growth in 2014
Company plans on establishing a $5.4mn cut-and-bend plant in KSA
Danube Group reported 17% growth in the last six months and said that it will record a 15 to 20% increase in 2014.
The company recorded $544.5mn (AED 2bn) sales revenue in December 2013.
Danube 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.
"40% of our business revenues are solely from the UAE, while 30% comprise of Saudi Arabia, 20% Oman and 10% from other markets. The success has been the result of our foresight, strong strategies, and ultimately, the value for money we offer to our customers,” stated Rizwan Sajan, chairman of Danube Group.
Danube plans on establishing a $5.4mn (AED20mn) cut-and-bend plant in Saudi Arabia, in addition to new ventures in real estate and property development.