Company on track to complete new factory in early 2015 and triple production of processed foods.
Dubai – Regional food leader Al Islami Foods reported an 8% year-on-year growth for 2013, driven mostly by demand from new markets such as Iraq, Yemen and Libya, along with non-traditional markets such as Russia and CIS countries. The company also announced an annual profit of AED15.2 million for 2013 in comparison to AED9.2 million for 2012.
The results, announced this week at the General Assembly meeting of Dubai Co-operative Society, which owns Al Islami Foods , show that despite tough competition, Al Islami has been able to achieve an annual growth of 8%. International sales for 2013 saw an excellent growth of 23% in volume and 14% in sales than the previous year. Growing awareness about halal food products in CIS and European countries was cited as the reason for the increase in global sales.
While Al Islami ‘s position in the GCC market remains strong, the company aims to increase its investment in a new food processing factory in Dubai to triple its production. The factory, when operational in early 2015, will firmly position Al Islami as the No 1 food company in the GCC region and create an additional1,000 jobs.
In his statement, Saleh Saeed Lootah, Chairman of Al Islami Foods , commented: “While the GCC market showed a marginal increase in terms of food consumption, Al Islami was able to remain profitable by expanding beyond the GCC. Our aggressive marketing push and social media campaigned helped raise the awareness levels in the new markets and we are determined to take that awareness to further reinforce our leadership position in the real halal industry.”
Lootah added that the outlook for the first quarter of 2014 was encouraging and the company hopes to increase its volume sales in the HoReCa sector during the Holy Month of Ramadan. “Through production differentiation, Al Islami will be targeting consumers who prefer to have quality meat and food products on the dinner table. At the same time, we will also advocating the UAE’s important stature in the world halal industry,” he added.
The coming months will see Al Islami making a major push to expand the halal strategy in line with Dubai’s ambition to become as the global halal capital. Al Islami is also exploring business opportunities in the Far Eastern regions and is already in talks with potential partners in developed halal markets such as Malaysia and Indonesia.
Originally Published on www.zawya.com