EGYPT – Cairo Poultry Company (CPC) has announced the distribution of cash dividends amounting to EGP 0.847 per share, totaling EGP 406.134 million (US$8.4M) to shareholders for the fiscal year 2023, according to a recent filing.
CPC is a leading poultry firm in Egypt, with an extensive supply chain covering all stages of poultry production, from breeding through to processing.
The company’s operations span the entire production cycle, including grandparent and parent stock, hatcheries, broiler farms, and processing facilities.
CPC supplies a wide range of chilled, frozen, and value-added poultry products to both retail and institutional clients, solidifying its role as a dominant player in Egypt’s food market.
Cairo Poultry is a subsidiary of Kuwait Food Company and operates across the Middle East and North Africa.
Its product lines, including well-known brands Koki and Americana Meats, offer a variety of poultry and beef items.
The company maintains contracts with major global restaurant chains such as KFC, Pizza Hut, Domino’s Pizza, Burger King, McDonald’s, and Hardee’s, along with high-profile hotel chains including Marriott, Sheraton, and Hyatt Regency.
In the financial year 2023, CPC saw its net profit surge significantly, reaching EGP 1.162 billion, more than quadruple the EGP 296 million (US$6.2M) reported in 2022.
The company’s profit margin also increased, rising to 10% in 2023, compared to 4.6% the previous year.
Meanwhile, Egypt is expecting a potential drop in poultry prices during the last quarter of 2024.
This is attributed to factors such as lower feed prices, an increase in supply, better veterinary care leading to reduced mortality rates, and improvements in production capacity.
Additionally, Cairo 3A Poultry, another player in the industry, recently opened a poultry processing plant in the industrial zone of Tenth of Ramadan City.
The company invested EGP 600 million (US$12.4M) in the facility, which has an initial production capacity of 9,000 tons per year.
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