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23 February 2024

Masafi reports net revenue of Dh378 million

By Staff Writer

Masafi, one of the leading fast moving consumer good (FMCG) brands in the Gulf and Middle East, has registered net revenue of Dh378 million for 2008, recording a growth of 35 per cent over the 2007 figures.

The company, an Al Ghuriar group firm, also reported 36 per cent increase in net profit for 2008 compared to the previous year. The profit figures were not revealed.

Masafi's financial results during 2008, which witnessed rising inflation caused by escalating raw material costs, surging operating expenses and weakened consumer confidence due to the global financial turbulence, have been attributed to its strategic growth strategy aimed at continuous product innovation and diversification, said a company statement.