The growing popularity of Vimto cordial in the region has boosted sales for its brand owner Nichols, based in the UK, and its regional distributor Aujan Industries.
Aujan, based in Saudi Arabia, is expecting this year's sales to be 20 per cent higher than the US$750 million (Dh2.75bn) in revenues it earned last year, said its chairman Sheikh Adel Aujan.
And Nichols, the beverages retailer that created Vimto, is expecting this year's sales to be up by 15 per cent.
John Nichols, the chairman of the company and grandson of its founder, said revenues in the first half were boosted by the earlier Ramadan season.
"The second half of the year is never as good for us in the UK, or for the business in total," Mr Nichols said during his annual visit to Dubai this week.
"But we will be ahead significantly from last year … there is growth here, there is growth in quite a few of the African countries that we deal with, and growth in the UK and Europe to a certain extent."
Nichols's pre-tax profits in the first six months of this year were up by 39 per cent on the same period last year.
The company's first-half pre-tax sales were up about 17.6 per cent to £44.2 million (Dh255.9m) from £37.5m in the same period last year. But its international sales growth was more than double that, at 38.6 per cent, driven by sales in Africa, Europe and the Middle East.
Nichols's and Aujan's sales are helped by Vimto's status as the traditional drink for those breaking the fast during the holy month of Ramadan. Last year, Aujan sold about 20 million bottles of the purple cordial, the sugar content of which gives an energy boost after a day of fasting.
"Someone here in their 60s, definitely from when they were six years old, they grew up on Vimto," said Sheikh Aujan. "It's an acquired traditional taste that goes from generation to generation."
The cordial, a mixture of blackcurrant, raspberry and undisclosed ingredients, has been sold in the region for more than 80 years. But Mr Nichols said both companies had increased their marketing budget to build up the brand and attract more consumers.
"Every year there is more advertising and marketing, and the brand grows accordingly," he said.
And Nichols is setting its sights on Egypt and Libya in conjunction with Aujan. Other targets include Iraq and Iran, where Aujan already has a plant.
"While the GCC markets are growing, and growing well, the big expansion will be in these newer markets," said Sheikh Aujan.
aligaya@thenational.ae
The specs: 2019 BMW X4
Price, base / as tested: Dh276,675 / Dh346,800
Engine: 3.0-litre turbocharged in-line six-cylinder
Transmission: Eight-speed automatic
Power: 354hp @ 5,500rpm
Torque: 500Nm @ 1,550rpm
Fuel economy, combined: 9.0L / 100km
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EOlive%20Gaea%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202021%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Vivek%20Tripathi%2C%20Jessica%20Scopacasa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELicensed%20by%3A%20%3C%2Fstrong%3EDubai%20World%20Trade%20Centre%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Climate-Tech%2C%20Sustainability%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%241.1%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ECornerstone%20Venture%20Partners%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3C%2Fp%3E%0A
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Brief scores:
Arsenal 4
Xhaka 25', Lacazette 55', Ramsey 79', Aubameyang 83'
Fulham 1
Kamara 69'
ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.