Alex Markets Consumer Complexes to invest EGP12mn in FY2016-17

Egypt-based Alexandria for Consumer Complexes Company-Alex Markets plans injecting investments of 12 million Egyptian pounds (US$1.3 million) during fiscal year 2016-17.

Speaking to Amwal Al Ghad Wednesday, Chairman Mohamed Sedky stated Wednesday that Alex Markets plans achieving sales of 70 million Egyptian pounds (US$7.8 million) during Eid Al-Adha.

He added that that the company attained sales estimated at around 52.5 million pounds during Eid Al-Adha 2015 and plans boosting this volume by around 17.5 million pounds during Eid Al-Adha 2016.

The chairman clarified that the company attained sales estimated t 534 million pounds during financial year 2015-16 opposed to 450 million pounds in previous financial year, making an $84million-increase.

About company’s preparations for Eid Al-Adha, Sedky pointed out that Alex Markets has supplied 220 outlets all over Egypt with massive amounts of meat and different food commodities.