Abu Dhabi – Mubasher: Foodco Holding announced that its board will convene on 16 March to discuss the establishment of Foodco Logistics Services, the company said in a filing to the Abu Dhabi Securities Exchange (ADX).

The board will also examine the financial statements draft for the year ended 31 December 2014. Moreover, the board will approve the corporate governance report for 2014.

Foodco reported a profit of AED 42.47 million ($11.56 million) in 2014 compared to AED 35.07 million ($9.5 million) in 2013.

Its capital amounts to AED 100 million at par value of AED 1 per share.