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 will start trading today (July 30, 2006) under the trading symbol UFC that will appear on DFM screens, trading systems and publications.
The listing of ordinary shares of UFC has been finalised and approved by DFM in collaboration with ESCA. UFC's shares can be traded by UAE national investors only. Its paid-up capital amounts to AED 25 million.
Essa Kazim, Director General of DFM said, "DFM welcomes UFC which makes its debut today. This month has been really eventful for DFM since four high profile companies - leaders in their respective category - made their debut on DFM. Investors now have another investment option from our listed stocks."
Humaid bin Ali Al Owais, Chairman of UFC, said, "UFC is delighted to list on DFM. The company is on a growth trajectory - 40 per cent 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 per cent 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 tonnes by end of 2004 to 85,500 tonnes 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.
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United Foods Company debuts on Dubai Financial Market
- United Arab Emirates: Sunday, July 30 - 2006 at 13:33
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Dubai Financial Market (DFM) today (July 30, 2006) announced the listing of United Foods Company (UFC), a leading player in production of edible oil refinery and manufacturing natural butter in the UAE.
(Left to right) On behalf of Humaid bin Ali Al Owais, Chairman of United Foods Company (UFC), Ali bin Humaid Al Owais and Mr. Ibrahim Abdul Jabar Mohammed Saeed, Public Relations Department, UFC, ringing the opening bell to start trading of UFC on Dubai Financial Market.
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Posted by Janeta Novakovic, Assistant News EditorSunday, July 30 - 2006 at 13:33 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun May 27 2007.
Notes and Media Contacts »
About Dubai Financial Market:
Dubai Financial Market was established as a public institution having its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000.
About United Foods Company:
United Foods Company P.S.C was incorporated in Dubai On November 04/1976 under a decree issued by His Highness The Ruler OF Dubai. A pioneering venture, United Foods Company became operational in early 1979, with an edible oil refinery and a hydrogenation plant with a refining capacity of 30 tons per day. Over the years, United Foods have expanded and modernized the plant fully and now operating at a capacity of 225 tons per day. In 1994, the Arabian Gulf's first integrated butter and margarine plant became operational at the company's factory complex in Dubai. The company's head office and one of the factories are located in Al Quoz with distribution facilities located at Abu Dhabi, Al Ain, Ras Al Khaima and Al Fujairah. The company has recently set up a crude oil refinery at Jebel Ali industrial area which will be fully operational form May 2006 and has a processing capacity of 500 tons per day edible oils.
For further information, please contact:
Tim Harrison / Bakul Gala / Tarek Fleihan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
Dubai Financial Market was established as a public institution having its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on 26th March 2000.
About United Foods Company:
United Foods Company P.S.C was incorporated in Dubai On November 04/1976 under a decree issued by His Highness The Ruler OF Dubai. A pioneering venture, United Foods Company became operational in early 1979, with an edible oil refinery and a hydrogenation plant with a refining capacity of 30 tons per day. Over the years, United Foods have expanded and modernized the plant fully and now operating at a capacity of 225 tons per day. In 1994, the Arabian Gulf's first integrated butter and margarine plant became operational at the company's factory complex in Dubai. The company's head office and one of the factories are located in Al Quoz with distribution facilities located at Abu Dhabi, Al Ain, Ras Al Khaima and Al Fujairah. The company has recently set up a crude oil refinery at Jebel Ali industrial area which will be fully operational form May 2006 and has a processing capacity of 500 tons per day edible oils.
For further information, please contact:
Tim Harrison / Bakul Gala / Tarek Fleihan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
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