Dubai Refreshments nets $16m in H1
Dubai, July 16, 2013
Dubai Refreshments, the sole franchisee, manufacturer and distributor of Pepsi-Cola products in Dubai, Sharjah and Northern Emirates, has announced a net profit of Dh60 million ($16.33 million) in the first half of 2013.
The first six months of 2013 reflect good growth in local market but significant slowdown in exports for Dubai Refreshments, a company statement said.
Revenues reached Dh427 million, a drop of 16 per cent compared to the Dh510 million revenues in the first six months of 2012.
The company registered an operating profit of Dh52 million in H1 2013, compared to Dh 82 million in the comparable period last year. The drop in revenues and operating profits is mainly due to a decrease in sales volumes in the exports business and increased spending on consumer targeted initiatives in the local market.
Tarek El Sakka, general manager of Dubai Refreshments, said: “DRC continues to show significant strength in the local market. Results were impacted by the volatile export business which was particularly strong in 2012. We expect less volatility as we progress forward with local business largely offsetting the drop in exports.” – TradeArabia News Service
More Miscellaneous Stories
- Dubai chamber F&B group sets roadmap for 2014
- Feminisation drive costs $213m to Saudi firms
- US interiors firm opens MEA base in Dubai
- Saudi 'spends $1.6bn on energy drinks'
- Farmer is jailed for raping housemaid in Bahrain
- Bahraini mother recounts firebombs agony
- Guard foils masked ATM robbers in Bahrain
- Bahraini on Arab world's 'most powerful women' list
- Latest kitchen technology at Sharjah event
- Number of HNWIs in Africa to double by 2023
- World boxing legend to visit Bahrain
- UAE road accidents decline by 23.5pc
- Top businesswomen in Bahrain honoured
- Death penalty sought for Bahrain terrorists
- Girl, 9, dies after fall from 8th floor in Abu Dhabi
- Lebanese café brand opens Dubai outlet
- Bahrain poultry firm told to step up safety
- Customer dies in Bahrain cafe brawl
- Bahraini boys hurt while planting bombs
- Philips, Ericsson launch LED street lighting
- DuBiotech to set up first Halal safety lab
- Jotun to supply coatings for Makkah Station
- Raytheon wins $655m Kuwait Patriot deal
- Alwaleed Foundation lights up 3 Saudi villages
- Poultry farms strike may trigger shortages in Bahrain
- Oman seals Victoria food security pact
- Saudi woman, 80, donates $133m to charity
- New Saudi clamp on energy drinks
- Outrage follows Bahrain killer bomb
- Improvised explosive device used in Bahrain attack