Dubai Aluminium Corp (Dubal) saw net profits jump 65 percent year on year to a record 3.52 billion dirham ($953 million) in 2011, the government-owned smelter said on Wednesday.
Dubal's record profits were thanks largely to a 28.5 percent year on year increase in gross sales to 11.14 billion ($3.03 billion), making it one of the most profitable Dubai government businesses.
"Reducing budgeted capital expenditures and maintaining tight working capital control contributed significantly to achieving improved cash generation from operating activities and free cash flow," chief executive Abdulla Kalban said in a statement.
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