Oman Refreshment launches new product line

Muscat-based listed firm Oman Refreshment Company SAOG (ORC) yesterday announced the launch of a new line of ‘ready to eat’ bakery products in the Sultanate.

The new range, marketed under the brand name ‘Eurocake’, includes croissants, cupcakes, chocolate chip brownies, muffins and pound cakes.

Youssef Ezzikhe, Chief Executive Officer, stated that the company is “selectively diversifying its product portfolio to meet the discerning tastes and preferences of its valuable consumers, with high quality products that are competitively priced”.

Leveraging on the Company’s logistics and distribution strengths, the company expanded its food products range into the bakery product category with the addition of ‘Eurocake’ bakery items.

Oman Refreshment owns franchise rights for the PepsiCo range of beverages for the Sultanate of Oman. The company presently has seven production lines that churn out various beverages in cans, PET bottles, non-returnable glass bottles and Tetrapak juices. It also trades in various consumer packaged goods such as snack foods, potato chips, oat cookies, pasta and soups.

ORC achieved a net profit after tax of RO 7.81 million on a turnover of RO 59.07 million during the nine month period ended on September 30, 2016 compared to a net profit after tax of RO 7.05 million on a turnover of RO 58.28 million for the corresponding period of last year. Revenue increased by 1.4 per cent during the nine month period of 2016 compared to the corresponding period in 2015.