Saudi's Aujan sees $1bn sales target by 2012

Aujan Industries, one of the Gulf region's largest private drinks company, said on Sunday it was on track to meet its 2012 $1 billion group sales target, the firm said in a statement.

The Saudi beverages company, which was established in 1905, said it saw a 20 per cent growth in 2010 and would be planning for global expansion, product development and upgrade of its distribution network, it said ahead of a regional food conference in Dubai this week.

Juice brand Rani was leading its brand sales with a 23-per-cent increase year-on-year, while Vimto sold 29 million bottles in the Gulf Arab region in 2010, accounting for more than 90 per cent of the regional market.

The company also said it would introduce its Barbican brand in the Iranian and Egyptian markets, and also planned to expand in emerging markets such as Syria, Libya, and Algeria.

"There are a number of fast emerging markets in the region which are crucial to our growth strategy," said Kadir Gunduz, the company's chief executive.

Gunduz added that the Gulf represents as much as 90 per cent of market share, making acceleration of growth within the region difficult.

"However, with markets where we enter as challenger brands we have huge potential," he said.