Oman’s exporter of aluminium profiles has increased sales and profits in 2015.

National Aluminum Products Company, which has succeeded in gaining contracts in several Gulf markets in recent years, reported “robust” growth volumes in both local and export markets with revenues totaling RO24.8 million ($64.42 million) during the year compared with RO19.4 million in 2014, representing an increase of 28 per cent.

The company did not give separate figures for domestic and export sales.

Net profit was RO0.78 million compared with RO0.70 million in 2014, an 11 per cent increase, Napco said while releasing some details. The company, which has been expanding capacity over the past two years, reported higher capacity utilisation at its plant. 

“Despite a challenging business environment for the aluminium extrusion industry, Napco managed to increase capacity utilisation at its existing plant, widen its product offerings, improve client services, and increase its focus on market initiatives, penetrating deep into domestic sectors to capture a wider market share,” a company statement said, without stating the increase in capacity utilisation.

Holtkamp: optimistic of growth

“Moreover, management implemented dynamic strategies throughout the year to enhance cost efficiencies in the future,” the statement added.

BULLISH STANCE

Chief executive Robert Holtkamp stated: “The rock-bottom prices of crude oil have impacted the construction sector, which in turn has affected the aluminium extrusion industry. Nevertheless, we are optimistic about the government projects in the region, especially in infrastructure development and building construction, boosting our volume orders in Oman and the rest of the GCC in 2016. In the near-term, Napco is bullish about the growth opportunities in established and new markets as it will offer improved services and products. Supported by a strong team, management will continue to pursue its strategy of creating long-term value for all stakeholders while ensuring sustainability in operations to attain operational excellence.”  

Napco has installed two additional extrusion presses in a phased manner and a vertical powder coating plant which will commence commercial production soon. The estimated cost of the expansion is RO7 million, including related civil construction of a new factory.

PROJECTS

The company has participated in several landmark projects in Oman, the rest of the GCC region and internationally. 

Its current portfolio in Dubai includes Citywalk, an upcoming retail destination on the junction of Al Wasl and Safa Roads; Onyx Tower, a three-tower commercial project close to Emaar Business Park on Sheikh Zayed Road, and Dubai Design District (d3), an ambitious and innovative purpose-built destination for creatives. In addition, it is working on Abu Dhabi Plaza, a mixed-use development underway in Astana, Kazakhstan. 

Napco’s long list of developments comprise the Supreme Court in Muscat, Salalah Airport, the Dubai International Airport Expansion (UAE), the Burj Khalifa (UAE) and the Al Rayyan Complex (UAE).