Foodco enjoys strong second quarter
Abu-Dhabi based food distribution company sees 204% rise in Q2 net profit.
The Abu Dhabi National Foodstuff Company (Foodco) reported second quarter (April-June) net profit of AED US $20.29 million, a rise of 204% year on year.
Foodco’s portfolio of brands includes names such as Mubarak Basmati Rice, Hafeet Spring Water and Al Safwa Powder Milk. The company also has local agency rights for a number of international suppliers, including Pasta Zara, Taj Mahal Saffron and Jelly Joy Juice.
“We have strived to bring genuine satisfaction to people in the region through offering products of the highest quality at competitive prices and enhanced the value for both consumers and stockholders,” said Ahmed bin Ali Al Dhahery, Foodco’s managing director and member of the board of directors.