Foodco net profit surges 600pc

DUBAI - Abu Dhabi National Foodstuff Company (Foodco) reported a net profit of Dh11.9 million for the year ended March 31, an increase of 600 per cent over the previous year's Dh1.7 million.

By A Staff Reporter

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Published: Thu 13 May 2004, 9:36 AM

Last updated: Thu 2 Apr 2015, 12:25 PM

Announcing this, Ahmed bin Ali Khalfan Al Dhahry, managing director of Foodco, said net profits realised through investments reached Dh15.4 million compared with Dh2 million for the same period in 2003, an increase of Dh13.4 million or 670 per cent. The revaluation reserve of shares reached Dh1.3 million compared to Dh3.6 million for the same period in 2003.

Al Dhahry said shareholders' equity reached Dh102.5 million, compared with Dh82.2 million for the same period in 2003, or an increase of Dh20.3 million, or 24.7 per cent. The book value reached Dh18.58 million from Dh14.91 million.

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