NAPCO sees 20% profit rise during 2015 to date
National Aluminium Products Company (NAPCO) has achieved $48m of revenue and $1.5m of profit during the first nine months of 2015
National Aluminium Products Company (NAPCO) posted a year-on-year profit rise of 20% for the first nine months of 2015.
The firm recorded a net profit of $1.5m (OMR0.582m) during up to 30 September, 2015, compared to $1.26 (OMR0.486m) during the same period of last year.
NAPCO also reported a 37% year-on-year rise in revenue for the first nine months of 2015. The company secured turnover of $48.05m (OMR18.5m) during the period, compared to a figure of $35.06m (OMR13.5m) during the first nine months of last year.
The company cited streamlined production and the introduction of new products and services as the primary drivers behind its 2015 performance. Commenting on the results, Robert Holtkamp, CEO of NAPCO, said: “NAPCO has registered outstanding financial results for the first nine months of 2015 due to [its] progressive business strategies and aggressive marketing plans, designed [with] the sharp decline in oil prices and the slowdown of the global economy [in mind].
“The GCC is bullish in its economic growth because of continued infrastructure development that has created opportunities for key players such as NAPCO. We remain optimistic about our growth in the near future because of our high-quality products, better customer service, and quicker delivery periods,” he added.
NAPCO has supplied aluminium to a selection of high-profile projects across the GCC and wider Middle East. The company’s current portfolio includes Citywalk, Onyx Tower, Dubai Design District (d3), and Abu Dhabi Plaza in the UAE, and a mixed-use development in Kazakhstan. The firm’s previous GCC projects include Oman’s Salalah Airport and the UAE’s Burk Khalifa.