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United Foods is likely to deliver strong growth

Finance, Business Dubai 27 Mar 21
United Foods is likely to deliver strong growth
Dubai's United Foods offers good investment opportunity. Maker of 'Aseel' ghee, United Foods is zeroing in costs and adding new categories.
Fee
Event Location
Dubai , Dubai
Area
Dubai
Start Time
27 March 2021, 12:00 AM
End Time
30 April 2021, 12:00 AM
Website

United Foods Company, founded in Dubai in 1976, is a manufacturer of edible oils, fats and frozen foods. The Dh148 million market capitalised company operates a plant in Jebel Ali Industrial Area and has six major brands, including Aseel and Nawar.

At the current dividend yield of 6.12 per cent, United Foods is a good choice for income investors. The shareholder-friendly management recently announced a dividend of Dh19.66 million for 2020, which corresponds to 65 fils per share. For shareholders, this is a bonanza.

The company, which is constantly trying to derisk its business model, had 60 per cent of revenue from exports a decade ago. Now, this is at 30 per cent. Despite the pandemic, sales in the UAE increased by 13 per cent in 2020.

In 2020, United Foods recorded an 8 per cent rise in revenue to Dh429 million and a 20 per cent rise in net profit to Dh38.8 million.

The projected growth in revenue for the company in 2021 is 10 per cent. Edible oils and fats grew the fastest at more than 20 per cent. Even though United Foods is functioning in the commodities space, it is trying its best to innovate through creating new recipes for B2B clients in bakerys.

United Foods have installed 4,000 solar panels at the Jebel Ali factory, which provides around half of its energy needs. All the forklifts in its factory are now electrical.

They are now reusing 99 per cent of the water for other purposes. These moves have helped in cost reduction... and a boost to profits. This year as the economy recovers; profits should rise sharply as the costs are not likely to increase much.


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