UAE-based Ducab Group announced that it maintained overall profitability in the first six months of 2020 as compared to the same period last year despite difficulties due to COVID-19. Ducab Metal Business (DMB) saw a rise of 15pc in external sales of copper rods in H1 2020.
Abu Dhabi-based Ducab Aluminium Company’s aluminum rods and overhead conductors’ supply to international customers increased by more than 2pc in H1 2020 compared to the same period last year.
Dr Ahmad Bin Hassan Al Shaikh, Chairman of Ducab said that Ducab cables and metals businesses have remained profitable during an extremely challenging time while upholding stringent health and safety standards, and ensuring that customer service remains unimpeded.
Shaikh informed that strong cash flows aided in the reduction of debt levels in the core business, consequently, the company’s total borrowings went down by 43pc compared to H1 2019.
The company exports 60pc of its overall rod, wire, and cable production.