NAPCO's revenue surges 28% to $64.4m in 2015
National Aluminium Products Company's (NAPCO) revenue surged 28% in 2015 from 2014 with earnings of $64.4m (OMR24.8m)
Nationnal Aluminium Products Company (NAPCO) recorded a 28% surge in revenue in 2015 with earnings of $64.4m (OMR24.8m).
In addition, NAPCO reported an 11% increase in net profit to $2.02m (OMR780,000) from $1.81m (OMR700,000) in the previous year.
Robert Holtkamp, CEO, NAPCO, said: "The rock-bottom prices of crude oil have impacted the construction sector, which in turn has affected the aluminium extrusion industry.
"Nevertheless, we are optimistic about the government projects in the region, especially in infrastructure development and building construction, boosting our volume orders in Oman and the rest of the GCC in 2016.
"In the near-term, NAPCO is bullish about the growth opportunities in established and new markets by offering improved services and products.
"Supported by a strong team, the management will continue to pursue its strategy of creating long-term value for all stakeholders while ensuring sustainability in operations to attain operational excellence."
To complement its growth plans, NAPCO has installed two additional extrusion presses in a phased manner and a vertical powder coating plant which will commence commercial production by the end of April 2016.