Masafi Reports Stellar Q1 Revenue Growth

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UAE-based beverage giant Masafi has posted a 44% year-on-year (y-o-y) uptick in revenue for Q109. Turnover climbed to AED105.4mn (US$28.7mn) on the back of marked growth across the company's bottled water and juice products. Masafi's first-rate results further dispel doubts that the UAE's downbeat near-term economic outlook would force the company to accept less than stellar sales growth in FY09. BMI believes that such fears have been misplaced. Masafi's sturdy market share of 40% and the fact that bottled water is an essential buy for consumers, irrespective of the economic climate, means Masafi is among the best placed food and