REMD targets 30% increase in sales this year

Confectioner REMD El Rashidy El Asly is targeting a 30% increase in its sales this year to reach EGP 260 mn, and plans to almost quadruple sales to EGP 1 bn by 2023, CEO Mohamed Kandil tells Reuters’ Arabic service. Kandil had said yesterday that REMD is also planning an IPO of 20% of the company’s shares next year.