DUBAI, 31 July 2006 — Dubai Financial Market (DFM) yesterday announced the listing of United Foods Company (UFC), a leading player in production of edible oil refinery and manufacturing natural butter in the UAE.
UFC is the 40th company to list its shares on the DFM and the 58th listed security on the market. UFC is classified within Industry sector which includes 4 public joint stock companies now.
The company’s shares started trading yesterday under the trading symbol UFC that will appear on DFM screens, trading systems and publications.
UFC’s shares can be traded by UAE national investors only. Its paid-up capital amounts to AED25 million. Humaid ibn Ali Al Owais, chairman of UFC, said: “UFC is delighted to list on DFM. The company is on a growth trajectory — 40 percent growth in net profit from AED4.5 million by end of 2004 to AED6.3 million by end of 2005. UFC’s total profits reached AED36 million by end of 2005 as compared to AED31 million by end of 2004, a 16 percent growth.”
“UFC’s export sales also increased from AED173 million by end of 2004 to AED182 million by end of 2005 recording a 5 per cent growth. As for the volume of sales, it has increased 4 per cent from 82,000 tons by end of 2004 to 85,500 tons by end of 2005.
As for the sales revenue, it has risen from AED279 million by end of 2004 to AED282 million by end of 2005,” Owais added.
