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Egypt-based Kabo aims at two-fold sales by 2013
29
Jul '10
Chairman of El Nasr Clothing & Textile Co (Kabo), a garment producing company, which falls in the list of foremost companies of Egypt that were privatized recently, stated that, the company will be looking forward to double-up its sales figures by 2013, as it streamlines and enhances its capacities.

Since its privatization and listing on Stock Exchange in 1997, the company has been restructuring itself as it further downsized its labour strength and also reorganized the operations since September as Amr El Sharnoubi was appointed as the Chairman of the company. In times to come, main aim of the company would be to boost up sales, enhance its effectiveness and cost control, informed the Chairman.

Kabo, the maker of innerwear, nightwear and outerwear for men, women and kids in the middle-end market, generated revenue worth 135 million Egyptian pounds in the financial year 2008-09.

Main focus of the company still remains to be men's products, said the Chairman further adding that, by year end they expect to see the sales going up by 15 percent over previous fiscal. Financial results for 2009-10 fiscal, which ended on June 30, 2010, will be announced in August.

Kabo, in September last year trimmed its labour strength from 5,100 to 4,600. Sharnoubi informed that, of the total expenses incurred by the company, 50 percent was recorded towards payment of wages, which is a major cost component and thus, they are trying to downsize this cost.

Amwal Al Arabia, the textiles arm of Arab Cotton Ginning Co and sister company Egypt Ginning, holds 49 percent shares in Kabo, stated the Chairman.

Fibre2Fashion News Desk - India

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