Business | Construction
Madar Holding reports robust growth, remains cautious
Madar Holding on Monday reported that its half-year turnover has almost doubled, reaching Dh1 billion during the first six months of 2008.
- Staff Report
- Published: 12:48 August 4, 2008
Dubai: Madar Holding on Monday reported that its half-year turnover has almost doubled, reaching Dh1 billion during the first six months of 2008.
Madar chief executive officer Sameh Hassan said their growth this year has been driven by the strong results of their operations across the Gulf, Levant and Sudan markets, as well as their expansion to new markets such as Oman and Kuwait
“We are very pleased with our growth in the first half of 2008 which was achieved across all our markets and categories,'' said Madar chief executive officer Sameh Hassan.
However, Hassan said they remain cautious as they approach the second half of the year, given the challenges facing the building materials trading and manufacturing industry.
“Price volatility is a key concern, but also rising inflation is significantly increasing the cost of doing business and pushing us to carefully plan our steps in the restless construction industry.''
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