Masafi Posts Strong Profits For 2008

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Masafi, a leading UAE-based food and drink producer, has announced revenue of AED378mn (US$102.93mn) and net profit growth of 36% for 2008. The company, which is the UAE's market leader in the bottled-water segment and a leading producer of fruit-juices, has been stepping up its effort to expand horizontally into a fully-fledged fast moving consumer goods (FMCGs) company by 2011 by diversifying into the gourmet food segment. Industry onlookers will watch the company's performance like a hawk in 2009 to gauge consumer sentiment as the UAE's economy continues to slump (we are forecasting growth to slow to 1.0% in