24 March 2012
Modern Poultry Farms (MPF), a subsidiary of Oman Flour Mills (OFM), will increase its table egg production capacity by about 40 per cent, an OFM statement to the Muscat Securities Market (MSM) on Thursday said.
Modern Poultry Farms (MPF), a subsidiary of Oman Flour Mills (OFM), will increase its table egg production capacity by about 40 per cent, an OFM statement to the Muscat Securities Market (MSM) on Thursday said.
MPF, in which OFM owns an 86 per cent stake, has received in-principal approval from its board of directors for the expansion plan.
"The funds for expansion would partly be raised through a rights issue, increasing its share capital," said the statement.
MPF made a net profit of RO181,000 in the six months ending December 31, 2011, compared to a net loss of RO103,000 in the corresponding period of the previous year.
"MPF's performance is showing positive signs with production increasing and mortality reducing," said OFM chairperson Manal Mohammed al Abdwani.
© Muscat Daily 2012
