Egyptian Wholesale Trade Company attains $901mn-sales in FY2015-16

Egyptian Company for Wholesale Trade achieved sales volume of 8 billion Egyptian pounds (US$901 million) during financial year 2015-16 versus 6.2 billion pounds a year earlier.

Speaking to Amwal Al Ghad Monday, Chairman Mohamed Atef stated Monday that company’s sales volume rose by around one billion Egyptian pounds than the target in financial year 2015-16.

He added that this increase was due to firm’s investment plan that targets upgrading 50 branches, increasing storage spaces, establishing 21 consumer complexes, malls, and stores in addition to opening new factory for sugar packing.

The Egyptian Company owns 900 branches; 200 retail outlets and 700 wholesale outlets , in Cairo, Aswan, Red Sea, New Valley, and Marsa Alam, the chairman clarified.

Egyptian Company for Wholesale Trade is an Egyptian joint stock company affiliate to state’s Food Industries Holding Company (FIHC).