October 3rd, 2019 | 0 commentsArab 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)...
October 2nd, 2019 | 0 commentsNorth 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
September 26th, 2019 | 0 commentsArabian 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) on Wednesday...
September 23rd, 2019 | 0 commentsAmong 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 r...
September 5th, 2019 | 0 commentsIsmailia 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 E...
August 15th, 2019 | 0 commentsThe 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 th...
August 5th, 2019 | 0 commentsArabian 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...
August 2nd, 2019 | 0 commentsJuhayna 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 7...
August 1st, 2019 | 0 commentsRaya 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 on the si...
July 29th, 2019 | 0 commentsSultan Center Food announced that its 99%-owned subsidiary National Energy has signed a contract to sell its stake in two investments at a total value of $35 million. As part of a restructuring plan, National Energy will sell its full stake in Al Khorayef United Holding, representing 24% of Al Khorayef’s capital, in addition to exiting it...
