Executives at Dubai Refeshments were on somewhat of a sugar rush yesterday as the company doubled its profits in the first half of the year.
The exclusive bottler and distributor of Pepsi in the UAE injected some fizz into the start of earnings season with a 15 per cent cent increase in revenues compared to 2010, mainly due to an increase in the price of cans.
"The UAE has benefitted from the price increase we took at the beginning of year, but this has been offset by an increase in costs of raw materials and a reduction in volumes," said Tarek el Sakka, general manager at Dubai Refreshments.
Along with its major competitor Coca-Cola, the company increased the price of a can of Pepsi from Dh1 to Dh1.5 in January.
"Volumes are down as expected, we are operating on plan as a result of the price increase," said Mr Sakka. "It's very much in line with the plan in our growth markets."
Revenues increased from Dh386 million in the first six months of last year to Dh444m inn the same period this year.
Profits increased my a 109 per cent to Dh61.1m from Dh29.2m
Company%20Profile
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The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
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The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
The%20specs
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The 12 breakaway clubs
England
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur
Italy
AC Milan, Inter Milan, Juventus
Spain
Atletico Madrid, Barcelona, Real Madrid
The winners
Fiction
- ‘Amreekiya’ by Lena Mahmoud
- ‘As Good As True’ by Cheryl Reid
The Evelyn Shakir Non-Fiction Award
- ‘Syrian and Lebanese Patricios in Sao Paulo’ by Oswaldo Truzzi; translated by Ramon J Stern
- ‘The Sound of Listening’ by Philip Metres
The George Ellenbogen Poetry Award
- ‘Footnotes in the Order of Disappearance’ by Fady Joudah
Children/Young Adult
- ‘I’ve Loved You Since Forever’ by Hoda Kotb
Company%20Profile
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