National Aluminium Products Company (Napco), a leading extruders of aluminum profiles in the GCC, has posted net profit of RO701,000 ($1.8 million) for last year, with revenues totalling to RO19.3 million.

Continuing with the momentum, it has recorded a profit of RO165,000 for the first quarter of the year, compared to RO159,000 for the same period last year, said a statement.

The company has attributed its remarkable performance during last year to increased sales volume, better plant capacity utilisation, increased market share, deeper penetration into domestic markets, a wider product offering, improved services, and more thrust on marketing activities.

Meanwhile, the Q1 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, it said.

Robert Holtkamp, chief executive officer, 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.” - TradeArabia News Service