Foodco Holding’s net profit records AED 43.6m in Q1

Foodco Holding’s net profit records AED 43.6m in Q1
The company’s revenue increased to AED 67.87 million in Q1-18
Foodco FOODCO -10.00% 3.97 -0.45

Abu Dhabi – Mubasher: Foodco Holding has reported a 3.04% year-on-year increase in net profit during the first quarter of 2018, registering AED 43.61 million.

The company’s revenue increased to AED 67.87 million in Q1-18 versus AED 61.33 million in the year-ago period, according to a company statement released on Wednesday.

Cost of sales also rose to AED 54.65 million in the three-month period ended 31 March, in comparison with AED 46 million a year earlier.

Meanwhile, general and administrative expenses declined to 9.11 million from January to March, the UAE-based firm’s data showed.

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Source: Mubasher

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