Riyadh, April 17th, 2014 – For the 9th consecutive quarter, Nadec continues to be one of the fastest growing foods/dairy companies in the Middle East region as per the recent survey released by Nielsen, with leadership in growth rate achieved in many categories.
In the majority of the categories where Nadec competes including juices, cheese, milk laban, yogurt and more, growth is in the area of 20% whilst the market has been growing in middle to high single digits, allowing Nadec to reach record share levels in some categories (Juices 25%, yogurt 16%, milk 14%).
Patrick Satamian, Chief Executive officer at Nadec Foods commented on this, saying: The results of Quarter 1 confirm the historical trends as we have now reached a 60% growth in the past 3 years. This is a great start in 2014 as we aim to achieve record top and bottom line growth rate, capitalizing on the manufacturing, distribution, brand building investments and innovations made in the past months. He added: despite many external challenges requiring rapid solution findings and despite unusual weather, we have been able to maintain the growth momentum of previous quarters, whilst at the same time delivering record levels of profitability as per the announcement posted on Tadawul yesterday.
The ranking is based on Nielsen, which is leading global information and Measurement Company that enables companies to understand consumers and consumer behavior. Nielsen measures and monitors what consumers watch (programming, advertising) and what consumers buy (categories, brands, products) on a global and local basis.
The company has a presence in approximately 100 countries spread across Africa, Asia, Australia, Europe, Middle East, North America, South America and Russia, with around 40000 staff and USD 6 billion in revenues.