Tag: fooddrinkhome

  • Arab Dairy announces end of acquisition talks

    Arab Dairy announces end of acquisition talks

    Arab Dairy Products Co. (Panda) announced that all negotiations and due diligence processes to acquire a stake in the company have ended. The acquisition talks have ended as interested parties have different strategic views than those of the company’s management and key shareholders, according to a statement to the Egyptian Exchange (EGX) on Wednesday. The […]

  • North Cairo Mills reports EGP 1.5M in Agusut 2019

    North Cairo Mills reports EGP 1.5M in Agusut 2019

    North Cairo Mills Company (MILS) registered net profits of EPG 1.525 million in August 2019, compared to posting net surplus of EGP6.060 million in August 2018. It is worth mentioning that the company’s board approved the financial results on Sept. 30, noting it had targeted net surplus for August 2019 of EGP 2.950. -Arab Finance

  • Domty inks EGP 100m loan deal with CIB

    Domty inks EGP 100m loan deal with CIB

    Arabian Food Industries Co (Domty) announced signing a medium-term loan agreement with the Commercial International Bank – Egypt (CIB). Under the deal, Domty will receive a loan of up to EGP 100 million at the average interest rate set by the Central Bank of Egypt (CBE), according to a statement to the Egyptian Exchange (EGX) […]

  • McDonald’s UAE partners with SAP to serve $9.7bn food market

    McDonald’s UAE partners with SAP to serve $9.7bn food market

    Among the UAE’s largest quick food service restaurants, McDonald’s UAE has entered an agreement with SAP the global technology company to be digitally transformed. This deal aims at serving the UAE’s food services market growing to $9.7 billion by 2020, and enhancing customer experiences, industry experts announced, according to a press release on Sunday. A […]

  • Foodico’s board raitifes captial hike by EGP 12.5M

    Foodico’s board raitifes captial hike by EGP 12.5M

    Ismailia National Food Industries’ – Foodico (INFI) Board of Director (BoD) approved on September 03, 2019, increase the issued capital from EGP 45 million to EGP 57.5 million with an increase amounting to EGP 12.5 million. The capital hike will be distributed over 2.5 million shares. The board also suggested adding issuance expenses of EGP […]

  • Domty eyes EGP 3.5bn sales in 2020

    Domty eyes EGP 3.5bn sales in 2020

    The Arabian Food Industries Co. (Domty) targets to increase its sales to more than EGP 3.5 billion in 2020, the company’s vice chairman and managing director for planning and supervision Mohamed El-Damaty said. Domty seeks to achieve its plan by introducing a new bakery line in 2020, El-Damaty noted, according to a bourse disclosure to […]

  • Domty inks EGP 50m deal to install new bakery line

    Domty inks EGP 50m deal to install new bakery line

    Arabian Food Industries Co (Domty) announced signing an agreement with US-based manufacturer of high-speed commercial bakery equipment AMF Bakery Systems to purchase and install a new bakery line at a cost of EGP 50 million. The new line will be partly financed through a US dollar medium-term banking loan, while the remaining amount will be […]

  • Juhayna reports EGP 180m in H1

    Juhayna reports EGP 180m in H1

    Juhayna Food Industries reported a 24.65% year-on-year profit drop during the first half of 2019. Net profits plunged to EGP 179.64 million in the six-month period ended 30 June, compared to EGP 238.42 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday. Year-on-year, cost of sales rose by […]

  • Raya Foods plans to raise export sales to $250m in 2019

    Raya Foods plans to raise export sales to $250m in 2019

    Raya Foods, subsidiary of Raya Holding for Financial Investment, aims to increase export sales by more than 90% in 2019, CEO of FMCG sector at Raya, Samer El-Waziri said. The food industries firm plans to export products worth $250 million in 2019, up from export sales amounting to $130 million a year earlier, El-Waziri revealed […]

  • Edita receives $10m additional finance from IFC

    Edita receives $10m additional finance from IFC

    Edita Food Industries has received an approval to obtain additional finance worth $10 million (EGP 165.81 million) from the International Finance Corporation (IFC), the company’s chairman Hani Berzy told Mubasher. The funding package aims to support Edita’s expansion plans in Egypt and Morocco and create jobs, Berzy added. Earlier on Tuesday, IFC, the private sector […]