Arkan Building Materials reported a 26 per cent increase in net profit last year, thanks to higher sales volumes, renegotiated supply contracts and production cost cuts, the company said yesterday.
Full-year net profit rose to Dh101.1 million from Dh80m a year earlier, the company said in a statement. Revenue edged up 17 per cent to Dh876.9m from Dh751.8m.
The company said it has increased its market share and exports to the Arabian Gulf region, Africa and Asia.
“As we look ahead to the coming year, we will continue to capitalise on our position as a market leader in Abu Dhabi and expand our markets both across the UAE and internationally,” Jamal Al Dhaheri, the chairman, said in the statement. “We are confident that our sustainable strategy will allow us to continue growing despite more challenging market headwinds.”
The company last year provided building materials to projects that included the new Presidential Palace in Abu Dhabi, the new terminal at Abu Dhabi International Airport and the housing projects for Emiratis on Yas Island.
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