Al Anwar Ceramic Tiles announces excellent half yearly results

The company's net profit was reported to be an impressive AED 9.647 Million in comparison to AED 8.865 Million during the same period last year.

During the past quarter, Al Anwar made a net profit of AED 5.067 Million, which is the highest ever in its history.

"We are very proud of Al Anwar's acheivments over the years. The company has been growing from strength to strength, and we expect more substantial growth as we move into the future",

said Hussain Sajwani, DAMAC Holding Chairman.

Gross revenues increased by 14% to about AED 40.458 Million during the first half of this year, against AED 35.345 Million during the first half of 2005.

The higher level of sales was achieved due to higher manufacturing output. During this half year the plant produced 3.043 million m2 up from 2.676 million m2 during the corresponding period last year. This output is in line with Al Anwar's capacity of 6 million m2 pa. Today, the company's assets are valued at AED 111.641 Million.

"In line with our philosophy of aiming to always grow our business and aspiring to maintain our position as leaders, we plan to expand production capacity of Al Anwar futher. Today, Al Anwar Ceramic Tiles is one of the largest and most prominent manufacturers of floor and wall tiles, and we plan to enforce our position by expanding our client base and achieving better earnings as the years go by", commented Sajwani.