DAMAC Holding's Al Anwar Ceramic tiles reveals impressive results

Al Anwar's gross revenue amounts to RO 6.8 Million, while its net profit before tax is declared as RO 1.4 Million. Last year's gross revenue was proclaimed at RO 5 Million, while the company achieved a 1.33 Million net profit before tax.

In comparison with 2004, Al Anwar's gross revenue experienced a 36% increase, while its net profit grew by 5%

"We are proud of Al Anwar's performance in 2005", said Hussain Sajwani, DAMAC Holding Chairman. "The factory has certainly established itself as one of the region's leading players", he added.

At a recently held Board of Directors meeting, the company decided to issue a stock dividend of 80% of the paid up capital, which currently stands at RO 3.188 Million. The issuance of dividends will be subject to statutory and shareholders approval.

The factory has currently an installed capacity of 6-million m2 pa. The Board has approved in principle to add another line with a capacity of 3 to 4 million-m2 p.a. This will entail an investment of approximately RO 4.5 million, and bring the company's installed ceramic tile capacity to about 10 Million M2 p.a. In addition to this the company has investments planned in its' third firing facility.

With al Anwar's astounding performance in 2005, we decided to expand the plant's capacity further, as we see substantial growth potential for the factory in the future", commented Sajwani.

Al Shams, the company's manufactured brand is the market leader in Oman and one of the most popular brands in the GCC. In recent years, the company became considered amongst the top five players in the Middle East.