Profits at Dubai Aluminium Company (Dubal) last year rose 24 per cent compared to 20 per cent in 2006, it was announced on Wednesday.
The figure was released, according to an internal report, after Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, presided over the annual General Assembly meeting of Dubal.
Sheikh Hamdan heard a report from Dubal Deputy Chairman Ahmed Al Tayer on the company’s operational results, projects undertaken in 2007 and future development plans.
Al Tayer also outlined Dubal’s efforts in conservation and the environment, corporate social responsibility and Emiratisation.
Dubal profits topped Dh1.9 billion in 2007 compared to Dh1.4bn a year before. Also, sales stood at Dh9.4bn in comparison with Dh8.8bn in 2006.
The report on operation results and progress of work said Dubal over the past period completed the five-B production line at a cost of Dh256m, adding 32 new smelting cells.
The report also noted the progress of work on the six-B production line, built at a cost of Dh478m, with 40 new smelting cells.
According to the report, Dubal is getting ready for new projects, including the Emirates Aluminium smelter in Al Tawila area of Abu Dhabi. (Wam)
Dubai Aluminium Company profits reach 24% for 2007