Co-op Islami revenue up by 36.8pc

DUBAI — Co-op Islami yesterday announced a record 36.8 per cent increase in revenues for the first quarter of 2005.

By A Staff Reporter

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Published: Tue 26 Apr 2005, 10:46 AM

Last updated: Thu 2 Apr 2015, 4:10 PM

The company's wholesale soared by 34 per cent in the AGCC while exports to international countries increased by 77 per cent compared to the same period in 2004.

Saleh Abdullah Lootah, chief executive officer, Co-op Islami, said: "Co-op Islami's impressive performance during the first three months of this year reflects the success of our strategy and promotional campaigns that the company had initiated in the UAE and AGCC countries."

Co-op Islami launched a reform structural strategy that aims at enhancing the management's aptitude. The company also conducted a series of new appointments and established new divisions to keep pace with the developments taking place in the market.

He said: "The good performance that the company has showed so far reflects the success of the strategic planning adopted by the company to develop its performance and enhance its efficiency to satisfy the consumer and market needs."

"Co-op Islami's resent promotional campaign, which included all its AGCC markets, contributed with more than 15 per cent growth in its sales. The campaign contributed to increase the company's sales due to the good response registered by our customers," he added.

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