Alexandria Oils and Soap Posts EGP1.3bn Quarterly Sales, Targets EGP5.8bn by Year-End

Alexandria Oils and Soap Company, part of the Holding Company for Food Industries, has announced sales of EGP1.3 billion in the first quarter of the current fiscal year. The results were driven by increased production capacity and lower raw material costs on global markets.

Ambitious Targets and Strong OutputHamed Abdel Salam, chairman of the company, said the plan for fiscal year 2024/2025 aims to raise sales to EGP5.8 billion, through higher production rates and improved operational efficiency.Regarding actual output over the past three months, Abdel Salam noted that the company produced:

• 29,000 tonnes of cooking oils.
• 1,900 tonnes of detergents and soap.
• 37,000 tonnes a year from its animal feed plant, all of which is directed to the domestic market.

Top Priority for the Supply System and Price CutsThe company chairman affirmed that top priority in production goes to the state supply system, which absorbs 97% of oil output, while the remaining 3% is directed to the free market.As part of its commitment to the Ministry of Supply's initiatives to ease the burden on citizens, the company benefited from the decline in global raw material prices and cut the price of a 700ml bottle of oil by more than 9%, bringing it down from EGP52 last May to EGP47 currently.

Export Activity and a Long HistoryAlongside its domestic role, the company is active in exporting detergents to foreign markets including Libya, Tunisia, and the United Arab Emirates, and it also maintains a presence at major local events such as the "Ahlan Ramadan" exhibitions.It is worth noting that Alexandria Oils and Soap Company, founded in 1963, operates four factories and serves as a key production arm of the Holding Company for Food Industries, with total annual output of detergents and feed additives reaching nearly 60,000 tonnes.

Source: Al Bursa