Sense gourmet makes aed 12 million net profit,

Sense gourmet makes aed 12 million net profit,
Leading Gulf food company Sense Gourmet PJSC today announced an AED 12 million net profit for 2007 and unveiled plans to seek an increase in its capital.
At its meeting held on March 17, 2008, the Board of Directors decided to propose to the General Assembly which will be held on Monday April 28, 2008 to increase the paid up capital to AED 38 million through a 15% bonus share issue.
Sense Gourmet’s net profit for the year ended December 31, 2007 was AED 12,001,167 including AED two million in operating profit and the rest in investments in real estate, land and stock.
During the year Sense Gourmet bought the Abu Dhabi National Catering Company from Foodco Holding to run and manage its nutrition contracts with the Ministry of Defence. It has been awarded new two year contracts to provide nutrition services worth AED 14 million.
Meanwhile Sense Gourmet opened the first of 35 planned UAE Figaros Pizza restaurants in Marina Mall, Abu Dhabi, on January 17 this year and the second outlet will be opened in Sharjah’s Mega Mall this month. Sense Gourmet holds the master franchise for Figaros Pizza for the Middle East.
Managing Director Mr Ali Al Qellawi said planning was well advanced to open at least five Figaros Pizza restaurants in Dubai, Sharjah and Abu Dhabi during the current year.
Eventually the Figaros chain will be rolled out across the GCC (with restaurants in Saudi Arabia, Kuwait, Qatar, Bahrain and Oman), Egypt and Lebanon.
Mr Ahmed Al Dhahry, the Chairman, said Sense Gourmet had also started negotiations for a joint venture with an Australian partner for different types of restaurants across the GCC, Egypt and Lebanon.