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FINANCIAL NEWS
Dubai’s Danube’s 2011 revenue jumps 25%
06 Jan 2012
(MENAFN) UAE’s Danube’s Chairman, Rizwan Sajan, said that in 2011, the building materials and furnishings company’s revenue surged 25 percent to USD421 million, from USD340 million in 2010, reported Gulf News.
Sajan added that Danube’s range of wood products, for which prices were more stable, achieved revenues of USD204 million, whereas the rest of the revenue came from the non-wood items.
He also said that the firm added new locations in Saudi, Oman and Bahrain in 2011, as part of a USD54 million investment; moreover, the company expanded its retail presence in the UAE and India.
It is worth noting that Danube set a revenue target of more than USD816 million by 2015.
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