Cairo - Decypha: Amid uncertain economic performance, Hero Food Industries, Overseas For Food Products, and White Land for Food Industries have announced a boost in 2017 targets.
Hero Food Industries plans to double the size of its exports in 2017 to reach EGP 500 million, up from EGP 250 million last year. Managing director of the company, Mahmoud Bazan, told Daily News Egypt that they aim to reach sales of EGP 1 billion, equally split between exports and the domestic market.He add that the company’s exports last year are estimated at EGP 250 million, accounting for 34% of the total sales worth EGP 720 million.
Similarly, Overseas For Food Products aims to increase its exports by 20% in 2017 through expanding in foreign markets.Walid Gamal, company Chairman highlighted that exports amounted to $5 million last year.
While, White Land for Food Industries has announced its plans to double its sales in 2017 to reach EGP 300 million, up from EGP 160 million in 2016. Saeed El Mashad, Managing Director of the company, told Daily News Egypt that White Land is seeking to increase its sales volume by increasing the annual production of cheese for expansion in the domestic market, as well as for export. He added that the size of production in 2016 reached 17,000 tonnes of cheese and that the company aims to boost the size to 31,000 tonnes after injecting investments worth EGP 15 million.
