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Dubai Cooperative Society reports 35 per cent increase in net profits

by 5m Editor
23 April 2007, at 10:25am

DUBAI - Dubai Cooperative Society, the holding company of Al Islami Foods, which is the leading provider of Halal food products in the Middle East, today reported 35 per cent growth in net profits for 2006, during General Assembly Meeting. Saleh Lootah, CEO, Al Islami Foods.

Saleh Lootah, CEO, Al Islami Foods.

Despite global challenges faced by the poultry industry, Dubai Cooperative Society's Al Islami brand continued to make forays into new markets during the past 12 months. The Halal food giant has entered into partnerships with local companies to set up factories for meat production and processed food products in Iran. Al Islami has also introduced its products in the Saudi Arabian market through its dealers based in Riyadh. In an effort to further consolidate its regional presence, the company started shipping its products to Saudi Arabia and Jordan last year.

'Due to the international demand for Halal food products, the Al Islami Foods has increased its production capacity of retail Halal sales to all GCC countries and into strategic markets such as Iran, Jordan and Egypt',

explained Saleh Abdullah Lootah, Chief Executive Officer, Dubai Co-operative Society.

Al Islami Foods strategically responded to the volatility of the impact of bird flu on the performance of industry. The company injected a sizeable investment in its brand to spread awareness that Al Islami products are very safe and healthy.

Certain highlights of the previous year included Al Islami's dynamic corporate re-branding initiative, which saw the company win the award for 'Most Creative Marketing Campaign' at the 'Halal Journal Awards, 2006' in Kuala Lampur. The company was also a recipient at the Retail News ME awards for 'Best Food Manufacturer in the GCC, 2006'.

Other initiatives conceptualized by the company during the past year included the launch of Al Islami Cart in collaboration with the Mohammed Bin Rashid Establishment for Young Business Leaders (SME), which is a dynamic franchise concept, management of marketing campaigns aimed at spreading awareness about Al Islami's new products. To improve production processes, Al Islami installed a new SAP system to keep track of operations in real time. The new system allows the company to monitor the entire production process to increase productivity and efficiency. In an effort to accommodate the company's growing operations, Al Islami built warehouses equipped with cold storage facilities with a capacity in excess of 2,000 tonnes and new offices built in accordance with latest infrastructural technologies.

The CEO, Saleh Abdullah Lootah is optimistic about the company's prospects. 'The five-year plan is a road-map that will lead the company towards a more prosperous, ambitious and challenging future under the supervision of a panel of world experts in the area, while the company plans to participate in the research and development. With the Halal foods market continuing to show signs of strong growth, Al Islami's expansion strategy will allow the company to tap the vast potential for growth in this sector; estimated to be worth $500 billion by 2010.'

For the future, the company is working diligently and proceeding to its five-year developmental plan (2007-2011) and joint efforts of the new management who are experts in their respective fields. Major highlights of the five-year plan include: introduction of Al Islami Cart, which has already been launched and working in UAE, introductory sales of Al Islami Hot-dog sandwiches to young consumers, company's initiative for the people to get work and to generate a reasonable income, consolidating presence through representative offices in other countries such as Saudi Arabia, Jordan and Iran, commencement of Supply Department, strengthening R&D department, entry into Brazilian consumer market, proposing Gold Category of Halal food in Dubai Quality Award and work on a blue-print of Al Islami's entry into the catering and hospitality sectors.

'The UAE has committed itself to go ahead with confidence in Halal food business, which possesses many opportunities. We will continue to progress on the path of development so that the company could take what it deserves from the highest and remains a role-model of high quality and Real Halal food in the industry,' said Saleh Lootah, CEO, Al Islami Foods.

5m Editor