Gulf Cable & Electrical Industries generated sales of KD119.29 million ($428.33 million) for 2011, a rise of 20.7 per cent over the previous year’s sales of KD93.15 million.

The company also reported a net profit of KD36.3 million ($130.36 million) in 2011 against KD26.4 million in the previous year.

Gulf Cable manufactures PVC-insulated low voltage cables, XLPE-insulated low voltage cables; auxiliary, pilot, coaxial and data transmission cables; medium voltage cables, overhead transmission conductors, conductors for earthing, telephone cables and cable jointings.

Regional finance manager Mustafa Abu Hatab said the company exported its products to the GCC states, Iraq, Yemen and Syria and efforts were in progress to penetrate several other markets in the Middle East and North Africa region. The company’s sales and marketing efforts have been greatly helped by a network of firms it has linked up with, of which there are three in the UAE, two in Bahrain, two in Saudi Arabia and one each in Oman, Qatar and Jordan.

“We have numerous contracts with the Ministry of Electricity and Water, the Ministry of Public Works and private contractors in various markets extending into 2012,” said Abu Hatab.

“Gulf Cable is in the process of introducing improved products and installing new machines. We are studying plans for vertical and horizontal expansions,” he added.

The company has a subsidiary in Jordan called Gulf Cable and Multi Industries whose plant has production capacity of 30,000 tonnes annually against 75,000 tonnes per year at the Kuwait facilities.

Actual production at the Kuwait plant was 72,135 tonnes last year compared with 58,271 tonnes in the previous year and 41,589 tonnes in 2009.

Gulf Cable was established in 1975 with the objective of meeting growing local requirements and providing end users with quality wires and cables. The company’s large and modern factory was commissioned in October 1979.

The company has received the Kuwait Quality Mark issued by the state’s Ministry of Commerce and Industries, and has been certified by RWTUV of Germany for the ISO 9001 accolade.