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FINANCIAL NEWS
UAE’s Al Islami to expand its business in 2015
16 Jun 2014
(MENAFN) UAE-based food firm Al Islami Foods plans an expansion project and build a new factory, which will create over 1.000 jobs in Dubai, according to Arabian Business.
The new factory will triple production levels, and is expected to be completed in 2015.
Al Islami reported an 8 percent year-on-year rise in sales for 2013, driven mainly new markets such as Iraq, Yemen and Libya, along with non-traditional markets such as Russia and CIS countries.
The company also posted a USD4.13 million annual profit for 2013 compared to USD2.50 million in 2012.
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