Foodco Holdings, formerly known as Abu Dhabi National Foodstuff, said its first-half sales rose to Dh63.72 million, an increase of Dh18.1m, or 39.8 per cent, from Dh45.58m registered over the same period last year.
Total profits ending June 2006 reached Dh9.5m, up by 35.7 per cent against Dh7m posted during the same period in 2005.
"We want our shareholders to know that by October, Sense Gourmet will commence operations and this will also add to our coffers," said Ahmed bin Ali Khalfan Al Dhahery, member of the board of directors and managing director of the company.
Sense Gourmet a subsidiary of Foodco handling catering, restaurant franchises and other retail operations in the hospitality sector is expected to contribute about 36 per cent to Foodco's annual turnover.
"The streamlining of our operations, coupled with implementation of new strategies helped Foodco to enjoy robust sales. We have introduced new brands for UAE customers, such as Chef Chtoura Ready Meals and others to beef up our portfolio and provide a more diversified line up for our valued patrons," said Al Dhahery.
He noted that the company's improved customer service also contributed to the positive growth of Foodco.
Al Dhahery stressed that the results of intensified operations management reflected the increase in sales.
General and sales expenditures for the period registered a substantial decrease by 9.18 per cent.
The company also reported that net profit for the first half rose by 51.85 per cent.
By Emirates Today Staff
© Emirates Today 2006
