Union Coop reports 26.5% growth in net profit

Dubai: Union Coop has reported a 26.5 per cent increase in net profit for the first quarter of 2019, compared to the same period the previous year, with an increase of Dh28.8 million.

The first quarter of 2019 saw a net profit of Dh138.5 million, compared to Dh109.7 million in 2018. The company also revealed that it has allocated Dh110 million towards price reduction of more than 25,000 basic food, non-food, and consumer goods during Ramadan, along with several socioeconomic initiatives.