Abu Dhabi: Arkan Building Materials reported 26 per cent jump in profits in 2015 due to increased production efficiencies, higher sales volumes, renegotiated supply contracts and loan agreements, the company said in a statement on Sunday. It reported a net profit of Dh101.1 million for 2015 compared to Dh80 million in 2014.
The company’s revenues went up from Dh751.8 million in 2014 to Dh876.9 million, marking an increase of 17 per cent.
Arkan is 51 per cent owned by General Holding Corporation (Senaat), wholly owned by the Government of Abu Dhabi, with the remaining 49 per cent of shares listed on the Abu Dhabi Securities Market (ADX).
“We have made significant operational progress in 2015 by increasing our market share and sales volumes through capitalising on our integrated products and services offering while ensuring increased operational efficiencies. As a result, we can now further compete on the international market,” Abdellatif Sfaxi, chief executive of Arkan, said in a statement.
The company has supplied products to a number of projects including Presidential Palace in Abu Dhabi, the new terminal at Abu Dhabi Airport and Emarati housing projects in Yas Island last year.
