Ducab Group announces profitable H1 2020 despite COVID-19.
Ducab Group, one of the UAEs largest industrial manufacturing businesses, has stated that overall profitability for the first six periods of 2020 has been preserved as compared to the same period last year, due to the flexibility of its diversified chains and minerals industry with all production based in the UAE.
Reflecting on the companys performance, Dr Ahmad Bin Hassan Al Shaikh, Chairman of Ducab, said: The prevailing COVID-19 pandemic has tested businesses around the worldincluding the industrial sector.
Endurance and business continuity have been the cornerstones of Ducabs strategy, backed by strong supply chain partners and the deep assurance from each member of the team.
Ducab cables and metals companies have thus remained profitable during an extremely challenging time.
All of this has been welcome while bracing rigorous health and safety standards, ensuring that customer service remains unimpeded.
Prudent financial management and efficient cost control measures across all industry areas permitted the group to partly offset the effects of margin requirements.
Moreover, powerful cash flows allowed debt levels to decrease in the core business, a result of which Ducab has taken down the total borrowings by an extraordinary 43% compared to the levels in H1 2019.
Collectively-owned by ADQ (through Senaat) and ICD, with six industrial facilities across four sites in the UAE, today Ducab group has a production capability of over 115,000 metal tonnes of high, medium, and low-voltage cable solutions, and upgraded production capacity of 180,000 tonnes of copper rod and wire per annum, complemented by 55,000 tonnes per annum of aluminium rod and overhead conductor.
