Cable and metal manufacturing drives Ducab Group profits up 5%
Ducab said its operations have been “solidified” through its commitment to both the local and international markets
UAE-based manufacturer Ducab Group has revealed a 5% climb in overall profitability in 2019 driven by gains in key areas of its cable and metal manufacturing portfolio.
The business attributed its profits to strategic contracts signed in 2019 such as a series of partnerships with the Abu Dhabi National Oil Company (ADNOC) to provide its range of cables and overhead conductors designed specifically for the oil and gas industry.
The firm has also supplied its cables to a number of Middle East-based solar plants as part of its commitment towards developing the UAE’s alternative energy sector.
Ducab also confirmed that it met more than 90% of the cable requirements for Expo 2020 Dubai projects last year including the Route 2020 Metro expansion.
The company has also been a supplier to the Riyadh Metro in KSA and Delhi Metro and Lucknow Metro rail projects in India.
For the firm’s metal business, Ducab generated more than $544.5m (AED2 billion) in sales with over 75% of the overall production being exported.
Commenting on the financial performance, Ducab Group chairman Dr 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.
He added: “We are proudly flying the flag for ‘Made in UAE’ products across the world, with Ducab cables and accessories now used in more than 30 countries.”