Egyptian Company for Wholesale Trade (Masria) targets achieving sales volume of 7 billion Egyptian pounds (US$894 million) at the end of financial year 2015-16, Chairman Ayman Salim said Sunday.
In an interview with Amwal Al Ghad, Salim -also the managing director- stated that Masria aims at increasing the sales volume by 13 percent by FY 2015-16 from 6.2 billion at the previous fiscal year.
He added that company’s plan for current fiscal year eyes boosting profits volume to around 95 million pounds opposed to 80 million pounds at financial year 2014-15.
The performance indicators of Masria from June-December 2015 are good since the company has attained sales volume of around 3 billion pounds in addition to profits estimated at 45 million pounds, the official clarified.
Salem added that Masria is planning to finish establishing its packaging factory in 6th of October City during August 2016 with the investment cost of 60 million pounds.
The factory is established on the area of 2,500 meters and set to operate with the capacity of 156,000 tonnes of packaged legumes, sugar, and rice to serve Faiyum and Beni Suef governorates in addition to a part of Minya.
The factory comes to complete company’s plan to establish four packaging factories in 6th of October City in addition to Asyut and Sohag governorates with investment cost of around 300 million pounds, the chairman said.
The four factories are set to operate with the capacity of 712,000 tonnes of packaged legumes, sugar, and rice.
Salim added that the Egyptian Company for Wholesale Trade company is currently completing its expansion and development plan that includes pumping investments worth 585 million pounds to execute a number of projects in different governorates.
The company has started working in this plan during fiscal year 2014-15 and targets achieving revenues and profits estimated at around 400 million pounds.
