United Foods Company PJSC

United Foods: a Dubai food producer

As of: 2026-06-30

United Foods Company PJSC is the Dubai Financial Market issuer traded as UFC. It manufactures, processes and markets vegetable ghee, cooking oils, margarine, butter products and fats, and also trades food and non-food products. Its economics combine manufacturing with distribution: raw-material purchasing, processing efficiency, product mix and customer collections all matter. It is not a supermarket operator, and the listed company must not be confused with another food group merely because a brand or shareholder appears in both businesses.

The company was incorporated by decree of the Ruler of Dubai on 1 November 1976; its legal status was amended on 27 June 1994 to comply with the public-shareholding-company framework. Its shares were listed on DFM in July 2006. The financial information below covers the company and its consolidated subsidiaries, not just the parent’s factory. Annual and interim periods are identified separately; the half-year figures are not annual forecasts.

Brands and product portfolio

As of: 2025-12-31

The 2025 sustainability report places oils and fats at the centre of the portfolio while also listing culinary products, ice cream and beverages. Aseel is the flagship brand; Mumtaz and Nawar address different product and positioning needs. Distribution of ice creams and frozen desserts sourced from international partners extends the offering beyond internally manufactured oils. A distributed product should not automatically be described as a brand owned by UFC.

The brand descriptions below follow the company’s own portfolio disclosure, without adopting its market-leadership or health claims as independently verified facts. The report describes procurement, manufacturing, sales and distribution as connected stages and reports a network reaching more than 75 countries and a workforce of 515 in 2025. These are company-reported operating indicators, not a count of owned foreign subsidiaries or stores, and they do not measure country-level revenue or profitability.

The consolidated group and related parties

As of: 2026-06-30

The interim accounts identify two wholly owned UAE subsidiaries: Stratus General Trading LLC, a general-trading wholesaler, and PAL Foodstuff & Beverages Trading LLC, which trades food and beverages. Each is held at 100%. Both belong inside the reported group. The accounts present one operating segment; brand, product and geographic descriptions should therefore not be mistaken for separately disclosed profit centres.

The annual related-party note identifies Modern Bakery LLC, Unikai and Company LLC in Oman and Unikai Foods PJSC as entities under common directorship, not as UFC subsidiaries. The distinction matters when assessing group size and intra-group transactions. At 30 June 2026 receivables from related parties were AED 3.339 million. Related-party balances deserve monitoring alongside ordinary customer credit; their disclosure does not establish a payment guarantee or ownership of the counterparty.

Production sites and the asset base

As of: 2026-06-30

The 2025 business description identifies Jebel Ali as a major production site and Al Quoz as the location of corporate offices and headquarters. The financial notes distinguish the tenure: the Jebel Ali building stands on land leased from the Government of Dubai, while the Al Quoz land is registered in the group’s name. The governance report also describes a 2 MW rooftop solar installation at the Jebel Ali factory commissioned with Yellow Door Energy. This is an operating-energy initiative, not evidence that UFC owns a separate power-generation business.

At 30 June 2026 property, plant and equipment had a carrying value of AED 50.857 million and right-of-use assets AED 15.371 million. Investment property under development stood at AED 17.495 million. Its emergence largely reflects the transfer of existing land and construction balances following a change in use, plus additions; it should not be read as a cash purchase of that entire amount or as a completed, income-producing property. Accounting carrying values are not estimates of sale value or replacement cost.

Disclosed ownership, not an inferred controller

As of: 2025-12-31

The governance report lists the following holders with stakes of at least 5% at 31 December 2025. This is a dated shareholder snapshot, not a live register. The annual financial statements expressly state that the company had no parent entity or ultimate parent company at that date. Similar surnames do not by themselves establish a voting agreement, a consolidated family holding or a single beneficial owner.

Several large disclosed holdings mean that ownership structure deserves attention alongside liquidity and minority-shareholder rights. However, neither the table nor the absence of an accounting parent proves how an individual resolution will be voted on. No free-float calculation or current controlling percentage is inferred here; such claims would require a current register and additional evidence.

The annual earnings base

As of: 2025-12-31

In 2025 net revenue increased while gross profit and net profit were lower than in 2024. This is a useful reminder that a food producer’s sales growth does not automatically translate into better earnings: input costs and the mix of business can outweigh higher turnover. Operating cash flow became positive, but it remained below annual net profit. The table uses consolidated audited figures, with the annual cash-flow measure kept separate from accounting earnings.

All financial tables in this profile show AED millions rounded to three decimal places unless explicitly labelled otherwise. The original statements use whole AED. Net revenue is after discounts and rebates, not gross invoiced sales. The annual comparator is the prior financial year; it is not the prior half-year, and these figures should not be combined with interim figures to manufacture a forecast.

The latest half-year: stronger profit, weaker cash

As of: 2026-06-30

For the six months to 30 June 2026 the group reported a sharp increase in net revenue and gross profit. Net profit also rose, but operating activities consumed cash. The appropriate reading is two-dimensional: the income statement improved while the operating cycle absorbed funding. A profitable period can therefore coincide with more borrowing and less immediately available liquidity.

These interim statements were reviewed by EY, with its report dated 7 August 2026; they are not a second full-year audit. The comparison below is six months against six months. It does not claim that price increases, physical volumes or individual brands explain a specified share of growth: the selected financial disclosures do not provide that decomposition. The existing dated earnings review on this page remains useful for the more detailed period analysis.

Where revenue is earned

As of: 2026-06-30

The UAE is the largest revenue market. The remaining sales are split between other GCC countries and the rest of the world. This makes the international distribution network economically relevant, while showing that a broad list of destinations does not mean equal exposure to every market. The table is revenue geography, not the location of factories, a count of subsidiaries or a regional profit statement.

The interim accounts state that no single customer contributed 10% or more of revenue. This reduces the evidence for dependence on one named customer but does not eliminate dependence on the UAE market, distribution channels or common commodity inputs. Geographic diversification and customer diversification are different questions.

Inventory and collection risk

As of: 2026-06-30

The cash-flow statement shows that inventory accumulation, higher customer and other receivables, and a reduction in payables absorbed cash in the first half of 2026. Raw-material inventory alone rose to AED 83.759 million from AED 46.789 million at year-end. This can support production and availability, but cash tied up in stock cannot simultaneously fund dividends or repay lenders.

Trade receivables net of credit-loss allowances were AED 154.347 million; the broader trade-and-other-receivables line also includes advances, prepayments and other items. Those measures should not be interchanged. Inventory carries slow-moving-stock risk as well as commodity-price exposure: the provision rose to AED 2.054 million. The important follow-up is whether sales are collected and stock is sold, not simply whether revenue continues rising.

Debt, leases and available cash

As of: 2026-06-30

The Emirates Development Bank revolving working-capital facility has a limit of AED 40 million and is secured against inventory, trade receivables and related insurance proceeds, with a promissory note. The interim note states that covenants were met at 30 June 2026. That is a dated compliance statement, not a guarantee of continuing access or future compliance. Lease obligations are additional contractual commitments and should not disappear from a funding assessment simply because they are not bank loans.

The bank-balances-and-cash total includes deposits originally longer than three months and restricted funds. Cash equivalents were only AED 29.462 million after excluding AED 34.898 million of such deposits and AED 0.972 million restricted by court order. The restricted amount was unavailable for use and expected to settle a third-party matter. Comparing all bank balances directly with short-term borrowing can therefore overstate immediately accessible cash.

The balance sheet classifies all bank borrowing as current. Lease liabilities are split between AED 1.135 million current and AED 11.787 million non-current at 30 June 2026. This maturity distinction is more informative than treating all obligations as due immediately, but a revolving facility still requires ongoing lender access and working-capital discipline.

Physical palm oil is not the same as an option

As of: 2026-06-30

The group disclosed own-use purchase commitments for 2,500 metric tonnes of crude palm oil worth AED 10.471 million. These contracts are intended for physical inventory delivery and are not treated as derivatives. Separately, it wrote crude-palm-oil put options for the first time during the half-year. A written put creates an obligation and market exposure; receiving a premium does not make it a cost-free safeguard against commodity-price changes.

The option liability was AED 0.629 million, the premium receivable AED 0.545 million and the recognised fair-value loss AED 0.084 million. The contracts were not designated for hedge accounting, and fair-value movements went immediately through profit or loss. Commodity prices, shipping continuity, product quality and customer payment behaviour therefore remain material operating risks. The available disclosure does not justify a numerical estimate of the maximum option loss or a claim that all raw-material exposure is hedged.

Dividends, development and what to follow

As of: 2026-06-30

The AGM on 1 April 2026 approved AED 0.50 per share for financial year 2025, totalling AED 15.125 million. The interim statements confirm payment during the first half of 2026. The disclosed entitlement, ex-dividend and register dates were 9, 10 and 13 April 2026 respectively; these are historical dates, not an upcoming dividend opportunity. A distribution approved for one year is not a recurring minimum or a forecast for the next year.

Development remains visible in property under construction and capital commitments. At 30 June 2026 commitments for property, plant and equipment were AED 3.337 million. Future reporting should clarify progress on the property project, cash conversion after the inventory build and how investment and shareholder distributions are financed. Neither the interim accounts nor these commitments establish a completion date, guaranteed rental income or a quantified earnings target. The key test is whether operating growth can support both reinvestment and cash returns without persistent additional borrowing.

Public contacts and source boundaries

As of: 2026-08-31

The interim balance sheet was signed on 5 August 2026 by chairman Ali Bin Humaid Al Owais and chief executive Mohamed Itani. The AGM resolutions record the election of a new board term and the reappointment of EY for 2026. These dated disclosures identify governance responsibilities; they do not establish any personal guarantee of the group’s obligations.

The company’s 2025 governance report names Mohamed Mohamed Shawky as compliance and investor-relations officer. It publishes investor.relations@unitedfoods.ae, office telephone +97143382688 and direct corporate line +97145063805. The AGM notice also gives the general company number +97145063800. The postal address is P.O. Box 5836, Dubai, UAE; the corporate office is described as being in Al Quoz. These are published business contacts, not private contact details, and no telephone call or email-delivery test is implied.

The official website is https://www.unitedfoods.ae/ and the report identifies http://www.unitedfoods.ae/en/investor-information/ for investor information. This profile was prepared on 31 August 2026 using the linked integrated report, reviewed interim accounts and AGM resolutions. It preserves each source’s reporting date rather than implying that every fact is current on the preparation date. The website could not be freshly inspected during this check; the contact details remain bound to the dated disclosures. Sustainability statements are company-reported and are not treated as separately audited financial results.

Sources

1. S1 · United Foods: integrated report 2025, including audited accounts and governance · 2026-03-03
2. S2 · United Foods: reviewed consolidated interim statements, six months to 30 June 2026 · 2026-08-07
3. S3 · United Foods: AGM resolutions, 1 April 2026 · 2026-04-01