CO-OP ISLAMI revenues grow 36.8 per cent in first quarter

The company's wholesale soared by 34 per cent in the AGCC while exports to international countries increased by 77 per cent compared to the same period in 2004.

Commenting on the results, Saleh Abdullah Lootah, Chief Executive Officer - CO-OP ISLAMI, said: "CO-OP ISLAMI's impressive performance during the first three months of this year reflects the success of our strategy and promotional campaigns that the company had initiated in the UAE and GCC countries."

CO-OP ISLAMI launched a reform structural strategy that aims at enhancing the management's aptitude. The company also conducted a series of new appointments and established new divisions to keep pace with the developments taking place in the market.

Lootah added: "The good performance that the company has showed so far reflects the success of the strategic planning adopted by the company to develop its performance and enhance its efficiency to satisfy the consumer and market needs."

"CO-OP ISLAMI's resent promotional campaign, which included all its GCC markets, contributed with more than 15 per cent growth in its sales. The campaign contributed to increase the company's sales due to the good response registered by our customers." added Saleh Lootah.

He said: "The Company's results insure that that the adopted strategy of diversifying the product base to satisfy the increasing demand in the market is successful. The good performance also reflects the success of our strategic alliances and partners that support our regional growth plans."

Lootah concluded: "Our success as a company would not have occurred without the contribution of all our employees."