Danube posts Dh1bn revenue in 2009

(FILE)

Danube Building Materials, the building materials company, has reported annual revenues of Dh1 billion in 2009.

The company said that "while it did not register significant growth in 2009 compared to the 70 per cent it achieved from 2007 to 2008", it has "successfully buffered itself from the effects of the recession".

It also announced its goal to achieve 50 per cent growth in 2010, as well as plans to open at least 12 more showrooms in malls and standalone outlets across the region.

It said that it is upbeat about the first quarter of the year, stating its aims to secure 30 per cent out of its 50 per cent annual growth target within this period.

Its project portfolio includes Yas Island development, Dubai Airport Terminal 3, Meydan Race Course, Dubai Sports City, Motor City, Emirates Golf Course, Palm Jumeirah, and the Burj Khalifa.

"The GCC was an important market for us in 2009, considering the developments that transpired in the region despite the recession. In 2010, we are confident it will be easier for us to boost our business and achieve our targets given that the impact of the global financial crisis has not been as severe in the region as in other part of the globe," said Rizwan Sajan, Chairman, Danube Building Materials.

"We are currently undertaking expansion initiatives in Jeddah, Saudi Arabia, and planning on venturing into Riyadh and Dammam, as well as further into Qatar, India and the African region by way of franchise agreements and dealer networks."

 

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