Sales at the cable maker Ducab surged as Abu Dhabi construction industry orders outpaced Dubai for the first time.
The company increased sales by 39 per cent to Dh4.9 billion (US$1.3bn) last year. Operating profits from the underlying business doubled, said Ducab, without revealing numbers.
Revenue from the Abu Dhabi construction sector rose by half. Strong growth in the capital is augmented by sales in Europe, the wider Middle East and Asia, which accounted for 60 per cent of overall revenue last year, said Andrew Shaw, Ducab's managing director. "Last year was the first year that our sales invoiced to [Abu Dhabi] exceeded our sales invoiced to Dubai," said Mr Shaw.
Sales to the oil, gas and petrochemicals sector rose 250 per cent, as Ducab supplied cabling to key Abu Dhabi projects such as the gas processing facilities in Habshan, the refinery in Ruwais, and the Borouge petrochemical complex, also in Ruwais.
High oil prices spurred investment in the hydrocarbon sector, and Ducab was able to meet rising demand with a speciality cable factory tailored to the industry. Cables supplied to the hydrocarbon sector now account for about 15 per cent of sales.
"This year the growth has been driven both by growth of demand and the fact we have this special cables unit in full operation," said Mr Shaw.