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FINANCIAL NEWS
GOGSF surplus amounts to $189m
06 Jan 2011
(MENAFN) Director general of The General Organization for Grain Silos and Flourmills (GOGSF), Walid Alkhereiji, said that the company’s surplus in 2009 budget amounted to $189 million, which is 123 percent more than surplus in the year before, reported Arab News.
The director added that 2.17 million tons of total sales were achieved in the same year. He said there was a 5.5 percent average annual increase in GOGSF’s flour sales. He also noted that flour sales reached their maximum in Ramadan.
Alkhereiji added that the company has the capacity for producing 10,980 tons of flour and 2,100 tons of fodder per day.
It is worth noting that the Riyadh-based company has eleven branches where the Riyadh, Jeddah and Khamis Mushayt ones provide sixty two percent of flour production.
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