Gross profit expanded 8% to AED 99.6mn, underscoring operational efficiency
United Foods Company (UFC), a leading UAE-based food manufacturing and distribution company, announced financial results for the full year ended 31 December 2024.
Against a backdrop of geopolitical volatility and rising costs, United Foods achieved significant growth in revenue and profitability and reinforced its strong financial and market position, delivering on its long-term strategy for development. Total gross revenue rose to a record AED 601.7mn, supported by a 5.9% increase in sales volumes.
Profitability strengthened as gross profit increased 8% to AED 99.6mn, supported by improved cost controls, procurement optimisation, and product mix enhancements. Net profit before tax increased 11% to AED 33.9mn. Net profit after tax remained stable at AED 30.8mn.
“In all, 2024 was a milestone year of achievement for United Foods. We increased sales volumes and revenue, protected margins, continued to deliver dynamic, high-quality products and diversified our product portfolio to better delight our customers,” commented Fethi Khiari, Chief Executive Officer, United Foods Company.
Highlights
The Group invested AED 12.8mn in capital expenditure, primarily directed towards the installation of two new product lines: fractionation unit and PET blowing machine to produce bio-degradable bottles.
Throughout 2024, United Foods maintained a sharp focus on cost efficiency and working capital management. Total assets rose to AED 439.4mn, while equity increased to AED 344.5mn.
UFC, established in 1976, is part of the Al Owais family business group, one of the pioneering Emirati business conglomerates.
