By Andy Sambidge
UAE's Mani & Co in talks for move into Saudi, Bahrain, Qatar and Kuwait.
Mani & Co, a UAE-based producer of healthy fruit and nut snacks, said on Sunday it was eyeing new markets after seeing sales grow by more than 75 percent in the first quarter of 2010.
Company chiefs said they were currently in discussions with major distributors in Kuwait and Saudi Arabia with contracts in Bahrain and Qatar also near completion.
One year after launching its first factory in Dubai Investment Park, the company said in a statement that in Q1 2010 UAE sales grew by 77 percent compared to the previous quarter.
It added that predictions for the second quarter would be "at least that high".
“Focusing on new distribution and supply chain techniques has really opened up a lot of doors in the FMCG sector, especially when it comes to food snacks,” said Abouzar Rahmani, CEO and president of Mani & Co.
“Fresh produce doesn’t have to be expensive if you’re doing smart business. Consistency is the key, especially for customers that expect high-quality, natural ingredients. We have established that reputation here in UAE, and right now it’s simply a matter of maintaining those standards as we face increasing market demand.”
Looking to the future, Mani & Co said it was projecting to triple its annual growth in sales during 2010 through new partnerships within the local market and expansions throughout the GCC.
“The UAE has been a great base for our operations in the Middle East, and we are confident that the strong economic climate in Dubai will continue to be a foundation from which we can take our products global,” added Rahmani.For all the latest UAE news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.