Abu Dhabi’s Senaat revenues rise 3.5pc in 2018 | 2019-03-26 | daily-sun.com

Abu Dhabi’s Senaat revenues rise 3.5pc in 2018

26 March, 2019 12:00 AM printer

DUBAI: Abu Dhabi's industrial holding company Senaat saw revenues increase 3.5 per cent to reach Dh16.3 billion in 2018, on the back of cost-cutting even as it eyes growth opportunities this year.

Senaat's assets under management remained nearly flat at Dh27.3bn at the end of 2018, the company said on Sunday, report agencies.

"There’s a huge growth aspiration we have in Senaat, so we’re looking at opportunities in M&A [mergers and acquisitions] to acquire companies or greenfield projects, that’s something that we’ve proven over the past year,” Senaat chief executive Jamal Al Dhaheri told reporters in Abu Dhabi. Senaat manages key non-oil players such as the UAE’s largest steel producer Emirates Steel, National Petroleum Construction Company, and Ducab among others.