Union Coop announces AED110 million Ramadan Package


By Jamil Khan | DUBAI

Union Coop, the largest consumer cooperative in the UAE, has announced, for consumers, the 60-day Ramadan package of Dhs110 million allocated for price reductions of around 25,000 products on VAT free prices. The chain of hypermarket is also expecting Dhs650 million worth of sales during Ramadan campaigns to benefit 2.5 million beneficiaries with up to 90 per cent discount on most of the edible items.
Addressing the annual press conference at its head office in Al Aweer Dubai, Khalid Humaid Bin Diban Al Falasi, CEO of Union Coop along with Majiruddin Khan, Assistant Director of Trading Division also presented the result of the first quarter and reported a 26.5 per cent increase in net profit compared to the same period on the previous year, with an increase of Dhs28.8 million. The first quarter of 2019 saw a net profit of Dhs138.5 million, compared to Dhs109.7 million of 2018,” he said.
During the conference, Al Falasi said, “Union Coop achieved a net profit of Dhs138.5 million for the first quarter of 2019, with a monumental net profit improvement of 26.5 per cent compared to the same period of the previous year regardless of the decrease in the prices of the products by 7.5 per cent.
This is due to the increase in promotion campaigns released by Union Coop
-Published At Gulf Today

~ by jamilkhan on April 23, 2019.

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