CORRECTION & REPLACEMENT // Danube Group Records AED 2 Billion Turnover in 2013

Dubai, United Arab Emirates - Monday, March 24th 2014 [ME NewsWire]

• The company reported 17% growth in the last six months
• The company will open 10 new showrooms in the coming years
• The company to set AED 20 Million Cut & Bend Plant in Saudi Arabia

Danube Group recorded AED 2 billion sales revenue at the end of 2013 on the back of successful performances during the past couple of years. In keeping with the 17% growth we have recorded in the last six months of 2013, a growth rate we have maintained in the first two months of 2014, we expect to end the year at AED 2.5 billion in sales revenue. These figures are based on an expected increase in the Group’s revenue and profitability figures on the strength of higher product sales and an increase in the number of mega projects capped by the Group, both in the UAE and in the Middle East.
In addition to securing significant growth, the company has also undertaken major expansion initiatives, which has expanded its market reach further across the region. Mr. Rizwan Sajan (Founder & Chairman, Danube Group) says, “2014 is an important year for us. We will grow our retail base with the opening of 10 new showrooms across the region. This will include six medium- sized showrooms while four of them will be invariably massive.”
Mr. Rizwan Sajan further elaborates, “40 per cent of our business revenues are solely from the UAE, while 30 per cent comprise of Saudi Arabia, 20 per cent Oman and 10 per cent from other markets. The success has been the result of our foresight, strong strategies, and ultimately, the value for money we offer to our customers.
Based on the current uptrend in its overall growth and amidst the rapid expansion of the construction industry in the region, Danube will soon establish a 20 Million Cut & Bend Plant in Saudi Arabia. “Our vision as leaders in the industry is to cater to the requirements of our customers and maximize our inputs to further boost our market position by enhancing our product line.” Rizwan adds.

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Contacts

Ankita Arora
+971-435-89789
ankita@ibuz.ae

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