Foodco Holding PJSC board approved Monday April 14, to sell 40% of its stake in Al Maha Ceramics’ plant in Oman through a public offering in Muscat Securities Market.
Foodco added, in a filing to Abu Dhabi Securities Exchange that its board decided to delay discussing company’s ownership in Spectrum Glass Co Inc and Spectrum Light Block.
Foodco released financial statements for FY13 which reflected net earnings of AED 33.752 million, compared with AED 14.036 million in FY12.
FY13 revenue reached AED 98.408 million, compared to AED 112.029 million in FY12.