By : Basel Khaled
Raya Foods, a subsidiary of Raya Holding for Financial Investments, has revealed a remarkable growth in operations and figures in the first half of 2022; The company’s growth rate increased by 65% while its operating profits increased by 30% by the end of the second quarter of this year in comparison with the same period last year.
The recent figures crown the company’s growth over the past years; in 2021, Raya Foods’ sales growth rate exceeded 45%, while its profit growth rate hit 95% compared to 2020, said Omar Abdelaziz, CEO of Raya Foods.
“The company’s remarkable growth is credited to our efforts to keep pace with market requirements and the needs of consumers around the world, and above all, complying with international quality standards in all stages of farming, production and distribution,” Abdelaziz said.
“Growth figures clearly reflect Raya Foods’ success; as we have achieved these remarkable results despite the supply chain crisis hitting businesses worldwide. We also aim to increase the revenue growth rate to over 50% by the end of 2022 compared to 2021.
One reason behind Raya Foods’ recent growth is our robust presence in big markets such as the USA and China - as each represents 35% of our total exports- and also in Japan - all are part of our broad export market that includes over 40 countries on five continents,” he added.
Speaking of Raya Foods’ strategy for development, Abdelaziz continued: “in order to meet market requirements and keep pace with the increase in sales, we have raised our production capacity by 25% and taken maximum practical measures - even unprecedented ones - to ensure a top-notch quality.
We installed three laser machines on our production lines and took an unprecedented step to support our quality control efforts with an X-ray device for quality insurance to guarantee the quality of the products inside the boxes after storage and immediately before the distribution phase - a step that is the first of its kind in Egypt.”
Regarding Raya Foods’ expansion strategy, Abdelaziz said: “our expansion efforts are not only targeting the global market, as the local market makes a top priority on our agenda for the coming years.
Last year, the local market has made 3% of our sales, now and we aim to increase its share of sales to reach 10% by the end of this year. For this specific target, we hired a sales team to focus mainly on the local market instead of outsourcing external parties for distribution operations, and we started reaping the fruits of this step - seeing a leap in our sales locally.”
He continued: “In March - in cooperation with Heinz - we successfully launched our new product, ‘Lazah Ready’, under our leading brand name ‘Lazah’. Lazah Ready presents a new contemporary concept of cooking, as it provides all cooking ingredients in one package.
The new line has received great feedback from customers, for whom it simplifies the cooking chaos - especially the young customers who demand an easy timesaving solution for everyday cooking.”
Raya Foods is currently moving forward with implementing its announced plans aimed at utilizing solar energy by 30% to 40% to operate its plant.