Senaat revenues reach AED 14bn in 2015
Abu Dhabi – Mubasher: Senaat General Holding Corporation’s revenues rose last year by 5% to AED 14.04 billion ($3.82 billion), versus AED 13.42 billion ($13.65 billion) in 2014.
Total earnings before taxes, fees, depreciation and amortization reached AED 2 billion ($544.5 million) in 2015, according to a statement released on Saturday.
The company’s profits before taxes, fees, depreciation and amortization exceeded AED 1 billion ($272.3 million) in the first half of 2015.
Senaat joined last year a Japanese alliance featuring JFE Steel Corporation and Marubeni-Itochu Steel to establish Al Gharbia Pipe Company, which is expected to start operating in 2018, the company’s Chairman, Hussain Jasim Al Nowais, said.
Senaat’s assets reached AED 26.8 billion ($7.30 billion) by the end of 2015.
