(AFP Photo / Khaled Desouki)
The Ismailia National Company for Food Industries (INFL) aims to increase its sales by 25% to stand at 125m EGP by the end of the current fiscal year, compared to 100m EGP a year earlier, said Ahmed el-Nemr, the company’s general director.
El-Nemr said that the targeted increase in sales comes in line with the company’s expansion into new markets, including Lebanon, Qatar, Saudi Arabia, and East Africa.
The company’s revenues from overseas markets account for 8 to 10% of the total revenues and are planned to reach 40% in the coming two years, according to El-Nemr.
“We are working hard to develop the production lines at the factory at a total cost of EGP 17.5m in order to enhance production efficiency,” he added.
The INFL factory is located in an area of 36 feddans and has an annexed 200-feddan farm in Ismailia.
In the first six months of 2014, the company reported net profits of EGP 639,800, compared to a loss of EGP 485,100 in the same period a year earlier.
The factory was founded in 1984 by the Faisal Islamic Bank of Egypt which acquired 67% of its shares. The remaining amount is distributed across shares traded at the Egyptian Exchange.
The company, whose investments total 150m EGP, produces all kinds of juice and frozen vegetables and employs 465 workers.
The company reported a net loss of 1.2m EGP last year, down by 45.9% from a loss of EGP 2.2 million in 2012.
“The company has a good chance to raise its sales in the beverages sector in the coming period amid signs of political stability and plans for major projects recently announced by the government,” El-Nemr said.
Egypt’s food industry accounts for approximately EGP 350bn of GDP, of which EGP 8bn originates in the beverage sector, according to data released by the Egyptian Tourism Federation.
