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May 11, 2015 - National Aluminium Products Company SAOG (NAPCO), one of the leading extruders of aluminum profiles in the GCC, has announced a strong performance for 2014, posting net profits of OMR 701,000 with revenues totaling OMR 19,399,000. Continuing with the momentum, it has recorded a profit of OMR 165,000 for the first quarter of 2015, compared to OMR 159,000 for the same period last year. The figures were revealed during the company's recent board meeting held at the NAPCO headquarters.
The company has attributed its remarkable performance in 2014 to increased sales volume, better plant capacity utilization, increased market share, deeper penetration into domestic markets, a wider product offering, improved services, and more thrust on marketing activities. The Q1 2015 figures are a result of streamlined production along with active marketing and branding initiatives. Despite low oil prices, the future outlook for the GCC remains optimistic and bodes well for NAPCO's growth prospects.
Robert Holtkamp, CEO, NAPCO, said: “We are delighted to have posted excellent financial results for 2014 and Q1 of 2015 despite the volatility in oil prices. NAPCO's use of new technologies to enhance its capacity has resulted in increased production, while our new marketing strategies have translated production into sales. Going forward, we will continue to seek attractive opportunities in traditional markets while exploring fresher territories and maintaining our focus on operational excellence. Our performance has given us confidence to continue with our expansion program, which is progressing as scheduled.”
NAPCO has been part of several landmark projects in Oman and the rest of the region. Its long list of developments includes the Supreme Court in Muscat, Salalah Airport, the Dubai International Airport Expansion (UAE), the Burj Khalifa (UAE), and the Al Rayyan Complex (UAE), to name a few.
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