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Govt stake in Oman Flour Mills transferred to OFIC (Oman Daily Observer - 28/08/2016)

The Omani government’s 51 per cent stake in the joint stock Oman Flour Mills Company SAOG (OFM) has been transferred to Oman Food Investment Holding Co SAOC (OFIC), a wholly government owned entity set up with a mandate to support the nation’s food

Mezzan Holding acquires major stake in Al Safi Food (Saudi Gazette - 28/08/2016)

Mezzan Holding, one of the largest food, beverage, FMCG and pharma manufacturing and distribution companies in the Gulf, has completed its acquisition of 70% of KSA-based Al Safi Food Company on August 24, effectively granting Mezzan Holding a local

Abu Dhabi’s Senaat posts rise in profit from Agthia gains (The National - 23/08/2016)

Senaat, an Abu Dhabi industrial investment holding company, said that its first-half profit rose 6 per cent from the second half of last year, boosted by gains from the food company Agthia. The profitability came despite overall drop in revenue as lower

Al Meera among GCC’s most valuable firms (The Peninsula - 18/08/2016)

Al Meera Consumer Goods Company has been named as one of five Qatari firms in Marmore Mena Intelligence’s ‘30 most valuable non-banking companies in the GCC’ list. The selection was based on financial performance and quantitative methods, taking into

Al Meera posts $27.8m H1 profit (Trade Arabia - 14/08/2016)

Qatar-based Al Meera Consumer Goods Company (QSC) has reported a net profit attributable to shareholders of QR102.4 million ($27.82 million) for the first half of this year. The company recorded a gross profi­t of QR215.4 million, representing an 8 per

Dubai Parks and Resorts financial loss widens (The National - 12/08/2016)

Dubai Parks and Resorts reported a widening second-quarter loss as spending rose in the run-up to the park’s partial opening on October 31. The company said it expects to generate about Dh297 million in income this year, when it anticipates 900,000

Kuwait’s Americana posts 31% Q2 net profit gain (Reuters - 09/08/2016)

Kuwait Food Co (Americana) posted a 31 per cent rise in second-quarter net profit on Monday. The operator of restaurant franchises in the Middle East, including KFC, made a net profit of 9.03 million dinars ($29.91 million; Dh109.8 million) in the

Mezzan Holding’s Qatar revenue up 14.2 percent in the first half (The Peninsula - 08/08/2016)

Mezzan Holding KSC, one of the largest manufacturers and distributors of food, beverage, FMCG and pharmaceutical products in the GCC, including Qatar, has reported KD52.8m revenue for the second quarter of 2016 (Q2, 16), representing a 2.4 percent

Agthia changes profit outlook amid potential government subsidy change (The National - 04/08/2016)

Food and beverage company Agthia has altered its net profit outlook for the year due to potential changes in the Abu Dhabi government subsidy regime. It expects any changes in the government’s flour and animal feed subsidies to have an impact of anywhere

Agthia profits jump 16 per cent to Dh145m (Gulfnews - 02/08/2016)

Agthia Group, the Abu Dhabi-listed food and beverage producer, reported on Monday Dh145.4 million in net profit for the first half of 2016, marking a 16 per cent jump from the Dh125 million recorded in the same half of 2015. The figure puts profits for

Savola Group sees recovery next year (Saudi Gazette - 02/08/2016)

SAVOLA has delivered another quarter of below par performance due to sustained pressure in both its key segments of food (adverse currency movements and high competition) and retail (Pandati investments not yielding results, higher opex due to store

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