Chairman of Macro Group (MCRO) Ahmed El Nayeb revealed the company’s plans post-IPO.
More Details🧐 Macro aims to raise its exports to 5% of total sales in 2022. The company currently exports to 12 countries, & plans to export to more countries in the MENA region.
Macro targets adding 23-25 new products each year, noting that it currently has around 112 products.
El Nayeb added that Macro will expand its nutritional supplements line, & begin producing pharmaceutical disinfectant products.
Macro’s general director revealed the company’s intention to acquire a cosmeceuticals company with 12 products ready to be put out in the market.
Why this Matters🤔 El Nayeb said the company is targeting a 30% year-over-year growth in total sales this year.
Macro has had a policy of distributing 50% of its yearly net profits in cash dividends, & will continue to go by that policy after it went public.
Macro debuted on the EGX last Thursday, starting off strong with an intraday high 15% above its IPO price, but it was all downhill from there to eventually close down 7%.
