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FINANCIAL NEWS
Oman’s A’Saffa Foods aims OMR45mn expansion
26 Oct 2016
(MENAFN) A’Saffa Foods proclaimed that it has confirmed an expansion plan to raise chicken meat production capacity by 100 percent.Accordingly, the expansion project will be applied in two phases; each one will be 50 percent.However, the firm has achieved a decline in sales profit at OMR22.97mn for the Jan-Sep period of this year, against OMR24.27mn for the same period of 2015.The drop in revenue was attributed to reduction in feed subsidy for nine months of this year, which was at OMR16.924m compared to OMR15.547m.
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