Firm on course to receiving new manufacturing facility which will triple manufacture of processed food at by 2015.
A Dubai based pioneer of halal processed food manufacturing Al Islami Foods noted an 8 Percent annual growth for 2013, motivated generally by demand from new market segments including Iraq, Libya and Yemen, in addition to non-conventional marketplaces including Russia and CIS nations. The business also announced a yearly profit of AED15.2m for 2013 compared to AED9.2m for 2012.
The increase in profit was driven by the company’s business in the Horeca (Hotels, Restaurants and Cafes) sector in the UAE and its businesses in both the Horeca and retail sectors in the Gulf Cooperation Council (GCC) and other Arab countries.
According to Saleh Saeed Lootah, the company’s chairman: while food consumption slightly increased in the GCC, Al Islami continued to be profitable by expanding outside the region.
The outcomes, declared earlier in the week at the General Assembly of Dubai Co-operative Society, owners of the Al Islami Foods, reveal that regardless of rough competition, Al Islami has managed to attain a yearly growth of 8 percent. Worldwide revenue for 2013 reveals exceptional growth of 23 percent in volume and 14 percent in product sales compared to the previous year. Increasing awareness about halal foods in CIS and EU Countries was reported as the explanation for the rise in international sales.
Whilst Al Islami ‘s placement within the GCC market continues to be powerful, the firm seeks to boost its purchase in a new foods handling manufacturing facility in Dubai to triple its output. The manufacturing facility, when functional at the begining of 2015, will securely place Al Islami the number one foods manufacturer in the GCC area and produce an additional 1000 jobs.
Hamid Badawi, deputy chief executive of Al Islami Foods said: “Over the past two years, Al Islami has invested primarily in two key areas — the Horeca sector and GCC countries along with other Arab countries where we observed a growing demand for genuine halal food.”
In the declaration, Saleh Saeed Lootah, Chairman of Al Islami Foods, commented: “The new plant is in line with our expansion strategy and will help us to satisfy the increasing regional demand for food products of global standards. Our intense advertising and social networking campaigns boosted the consumer awareness within the new market segments. This latest development is also an example of our commitment to continue to invest in the UAE economy and build it as a world leader of the halal economy,”
Al Islami Foods is looking to expand its business in the Far East. It is in talks with potential partners in Malaysia and Indonesia.
Indonesia, which has the world’s largest Muslim population, plans to establish a centre for the halal industry by 2015, according to the Oxford Business Group.
Halal food accounts for around a fifth of worldwide food trade, according to Datamonitor.