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United Foods Company reports strong FY2024 performance

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United Foods Company

United Foods Company announced financial results for the full year ended 31 December 2024.

Against a backdrop of geopolitical volatility and rising costs, United Foods achieved significant growth in revenue and profitability and reinforced its strong financial and market position, delivering on its long-term strategy for development.  Total gross revenue rose to a record AED 601.7 million, supported by a 5.9% increase in sales volumes.

Profitability strengthened as gross profit increased 8% to AED 99.6 million, supported by improved cost controls, procurement optimisation, and product mix enhancements. Net profit before tax increased 11% to AED 33.9 million. Net profit after tax remained stable at AED 30.8 million.

The Board of Directors proposed a cash dividend of 100% of the paid-up capital for 2024, equivalent to AED 1 per share or AED 30.25 million in total. This proposed dividend payout, subject to shareholder approval at the upcoming Annual General Meeting, reflects the Group’s strong financial position and its continued focus on delivering value to its shareholders. United Foods Company is one of only three companies in the UAE to propose 100% cash dividend.

Fethi Khiari, Chief Executive Officer at United Foods Company, commented, “In all, 2024 was a milestone year of achievement for United Foods. We increased sales volumes and revenue, protected margins, continued to deliver dynamic, high-quality products and diversified our product portfolio to better delight our customers. These key initiatives have enabled us to reinforce our robust position in the UAE and in all the markets we serve.

I am pleased to announce that under the recommendation of the Board, there will be 100% cash dividend of the paid-up capital for 2024 in line with our sustainable and progressive dividend policy, at our Annual General Meeting. We would like to thank our shareholders for their continued support and trust in us.

Looking ahead, we remain dedicated to our strategic path that will enhance value for our shareholders, as we continue to scale our operations and invest in automation and efficiency. Our commitment to Emiratization remains core to our corporate vision, and we are proud to be building a business that is both future-fit and locally rooted.”

Operational and strategic highlights:

  • The Group invested AED 12.8 million in capital expenditure, primarily directed towards the installation of two new product lines: fractionation unit and PET blowing machine to produce bio-degradable bottles.

Operational performance and outlook

Throughout 2024, United Foods maintained a sharp focus on cost efficiency and working capital management. Total assets rose to AED 439.4 million, while equity increased to AED 344.5 million. The Group continued investing in manufacturing upgrades and digital tools to drive long-term competitiveness.

Strategic efforts to support national priorities of food security also gained traction, with new initiatives to advance Emiratization across departments. These efforts position the Group to contribute meaningfully to national development while attracting and retaining skilled local talent. United Foods remains focused on expanding regional distribution, enhancing product innovation, and deepening its ESG practices, ensuring long-term sustainable value creation for all stakeholders.

Hospitality

JD MALAT GALLERY X AFRICAN QUEEN KOJO MARFO INSTALLATION LAUNCHES DURING RAMADAN AT J1 BEACH

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African Queen Dubai unveils a special collaboration with JD Malat Gallery which operates in Downtown, Dubai and Mayfair, London, presenting an installation of works by Ghanaian-British artist Kojo Marfo at its J1 Beach location. Launching during the holy month of Ramadan through to summer, Marfo’s vibrant paintings enter into dialogue with the spirit of African Queen – the iconic Mediterranean restaurant founded on the French Riviera in 1969.

Installed throughout the venue, the works transform African Queen into an immersive cultural setting where gastronomy, art and atmosphere converge. From sunlit interiors to open terraces overlooking the shoreline, guests encounter contemporary African art within a space defined by Riviera elegance and cosmopolitan energy.

Born in 1980, Kojo Marfo is recognised for his distinctive AfroGenesis style – an Afrocentric “new beginning” that fuses Cubist visual language with Akan artistic traditions. His layered figurative works explore identity and spirituality, reframing African heritage through a contemporary lens. Rooted in Ghanaian artistic traditions while engaging with European modernism, Marfo’s work is expressive, symbolic and internationally resonant.

This dialogue between heritage and reinterpretation mirrors African Queen’s own story. Founded in 1969 in Beaulieu-sur-Mer, African Queen embodies Mediterranean art de vivre, where cuisine, culture and celebration unfold in an atmosphere of warmth and timeless glamour. Inspired by the 1951 film The African Queen, the venue’s layered textures and design create an environment that feels transportive yet refined.

At J1 Beach, the concept transitions seamlessly from relaxed daytime dining to vibrant evening gatherings.

Throughout Ramadan, African Queen welcomes guests for sea-view Iftar gatherings, offering a curated set menu designed for sharing. The experience begins with dates and lentil soup, followed by Arabic mezze with warm bread, lamb samosa and stuffed vine leaves. A choice of lamb, beef kebab, chicken tagine or vegetarian tagine follows, concluding with seasonal fruit. Soft drinks, coffee and tea are included per person.

The JD Malat Gallery and African Queen Kojo Marfo installation runs from February 2026 through summer 2026.

À la carte dining is available daily. Iftar is served from sunset throughout Ramadan, Iftar is served from sunset until 9:00 PM, with set menus starting from 296 AED per person, including welcome dates and apricot, sharing starters, a choice of main course, and dessert. The Suhoor menu is available throughout Ramadan from 10:30 PM until 1:30 AM, with last orders taken at 12:45 AM.

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Hospitality

SEVA Holds Its Table Open for Community This Ramadan

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In moments when the wider landscape feels uncertain, SEVA Table continues to hold its doors open as a daily act of care. Guests are invited to break their fast, reconnect and regulate with Ramadan Sufra designed to gently restore after fasting. The menu features dishes that support digestion and help transition the body gradually from fasting to nourishment. Highlights include:

  • Adas bi Hamod, slow-simmered green lentils with Swiss chard and lemon
  • Salt & Date: The Elemental Platter for two, featuring soup, warm dates, beetroot falafel, green shakshouka, hummus, cashew labneh, olives, bread, and tea
  • Light desserts including gluten-free cinnamon rolls and saffron lime key pie for sweetness that lingers without excess.
  • Karak Chai infused with cardamom and saffron

Everything is prepared in-house from scratch and designed to replenish without heaviness.

SEVA continues to operate as usual. The garden remains open for those who simply wish to sit quietly, share tea, or spend time in a steady environment. The café and space remain active, welcoming, and attentive.

“The table is not a backdrop. It is the practice,” says Shadi Enbashi, co-founder of SEVA. “We lay the Sufra each day because the act of gathering, of nourishing one another with care and without noise, is itself a form of presence.”

As always, SEVA offers what it can within its means. Simply a table, set with care, open to all who wish to sit.

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Hospitality

WOMEN’S DAY AT JOE’S CAFÉ: ENJOY A COMPLEMENTARY TIRAMISU WITH THE BURJ KHALIFA VIEW

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With stunning views, comforting cuisine and a warm ambience, Joe’s Café welcomes every woman to unwind, reconnect and celebrate Women’s Day in true Dubai style.

This Women’s Day, celebrate the spirit of ‘Her’ with an indulgent shopping-and-sipping experience at Joe’s Café. Perfectly perched inside The Dubai Mall, the café offers front-row views of the iconic Burj Khalifa and the mesmerising Dubai Fountain, making it one of the city’s most picturesque celebration spots.

Whether it’s a sun-kissed breakfast, a leisurely afternoon lunch between shopping sprees, or an elegant dinner with your closest friends, Joe’s Café creates the perfect setting for heartfelt conversations and memorable moments. To make the occasion even sweeter, guests can enjoy a complimentary Tiramisu with any main dish, available for lunch and Iftar. A delightful touch to toast the women who inspire, lead and uplift every day. Gather your squad, raise a cup, and celebrate ‘Her’ where the city sparkles brightest.

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