Arab Finance: Company Board of Directors approved Mansoura Poultry Company (MPCO)to proceed with the procedures for establishing a limited liability company in partnership with the United Eastern Group in the United Arab Emirates, according to statement Egyptian Stock Exchange.
The Chairman of the Board of Directors was authorized to take all procedures and decisions related to this matter and was authorized to form a joint committee with the Emirati side to coordinate all financial, technical and administrative procedures related to this participation. She noted that a joint project will be implemented in the field of poultry farming to produce table eggs on the territory of the State. Emirates, a desire by the Emirati company to reduce the import rate and meet the Emirati market’s need for table eggs.
She explained that an international company will be appointed to conduct a feasibility study for the project and a committee will be formed by both parties to follow up on all financial, technical and administrative procedures related to the project. She explained that the joint committee will prepare an operational budget for the project according to the parties’ participation rates, so that the participation rate of the Emirati party is 60% and the Egyptian party is 40% of the total. Project capital.
About the results of its operations for the financial period ending in 30/09/2024The company achieved revenues amounting to 495.14 million pounds, in addition to other miscellaneous revenues amounting to 28 million pounds, recording more than one and a half times what was achieved during the third quarter of 2023, which amounted to 290.4 million pounds, a growth rate of 80%.
The company was established in 1983 for the purpose of practicing the production activity necessary to serve and develop poultry wealth. The company owns a poultry hatching factory located in 10th of Ramadan City. Shortly after establishing the factory, the production rate reached 26 million chicks annually, to create a viable and sustainable institution that contributes to economic growth and development, providing employment and food security, based on the best producers and their commitment to environmental and ethical standards of production. In addition to achieving sustainable profits, and achieving a distinguished and prominent position in the local and international markets.
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