Dubai-based sleep products multinational, Intercoil International, has been ranked number four among the Dubai 100 SME rankings, which was launched last year.

It was also ranked 7th in both human capital development and global orientation (exports).

The initiative was launched by Shaikh Ahmad Bin Saeed Al Maktoum, chairman of the Economic Sector Committee in Dubai, president of Dubai Civil Aviation and chairman and chief executive of Emirates Airline and Group, said a statement.

The ranking award aims to identify the best performing small and medium-sized enterprises, honour the SMEs for their innovation, and recognise them for their contribution to the economic landscape in the Emirate.

Al Maktoum presented the award to Hassan A Hazeem, the CEO of Intercoil International, at a special ceremony held at the Dubai World trade Centre.

Hassan A Hazeem, CEO of Intercoil International, said: “This recognition is a result of our long-term planning, which is aligned with the set direction of the organisation – our mission, vision, purpose and values, which addresses the needs and expectations of all stakeholders.”

“The company’s nomination stems from its aggressive growth strategy aimed at becoming the market leader in orthopedic sleep systems across the Middle East. The company achieved this by developing a growth roadmap that could easily adapt to ever-changing market conditions in the region,” he said.

The objective of Dubai SME 100 is to inspire willing and able ambitious SMEs that have the potential to be world-class enterprises, to invest in innovation and people to sustain growth.

The ranking celebrates top performing SMEs in Dubai and operates to help companies identify capability gaps for improvement and attract the attention of potential investors, the statement said.

The SME sector in Dubai is a major driver of the economy, accounting for 95 percent of enterprises and 40 per cent of the workforce in the Emirate. Of the 100 ranked SMEs, 62 per cent are from the services sector, 13 per cent from manufacturing while 25 per cent belong to the trading sector.

The combined turnover of the top 100 SMEs based on their latest financial records is estimated at Dh2.3 billion ($0.63 billion), with a combined profit of Dh220 million ($59.9 million). – TradeArabia News Service