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Dubai-listed United Foods Company, a distributor of food products and maker of edible oils and fats, saw its first-quarter 2022 revenue surged by 38 percent, but overall earnings dipped slightly.
Total revenue for the quarter reached 195.8 million dirhams ($53.3 million), up from 140.9 million dirhams in the same period last year, according to a disclosure on the Dubai Financial Market (DFM), where the company’s shares trade.
However, total profit for the period inched down by 0.38 percent to 8.216 million dirhams, from 8.248 million dirhams in 2021.
The company distributes major brands including Oreo, Cadbury, Toblerone and Del Monte.
(Writing by Cleofe Maceda; editing by Seban Scaria)
