Dubal records 13% rise in ?13 net profit

The state-run company’s net profit jumped to Dh1.79 billion compared to Dh1.58 billion in 2012. While sales came down to Dh9.5 billion in 2013 over Dh9.77 billion reported in previous year.

“Dubal’s leading position is further affirmed by compound annual revenue and profit growth rates from 1996 to 2013 of 10.3 per cent and 6.9 per cent respectively,? said Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance.

Dubal results were revealed during the company’s General Assembly Meeting for 2013. Dubal’s achievements in 2013 reflect a combination of higher production and sales volumes, coupled with sustained focus on controlling the cash conversion cost, the latter despite increasing pressure on the purchase prices of raw materials, the company said in a statement.

Dubal’s net profit includes the company’s share in the profits of Emirates Aluminium Emal, which amounted to Dh55 million in 2013 during its second full year of production. Dubal’s balance sheet further improved through repayment of long-term loans mainly enabled by a healthy operational profit and continued control of working capital.

via Dubal records 13% rise in ?13 net profitUAE – The Official Web Site – News.