The contract includes the construction works for the preparation of infrastructure, structures, and poultry houses buildings. These constructions are to be operated in line with modern quality standards and the latest technology utilized in the table egg production sector. This is part of the company’s continuous efforts to develop its projects, expand its operations, and increase its production capacity.

The project has been designed and planned to construct breeding and production barns, aiming to increase the poultry sector’s capacity by 450% compared to its current capacity. This will enable an increase in production to approximately 165,000,000 eggs annually, in line with the overall expansion plan for the poultry sector.

The project will be implemented in two phases, allowing the first phase to be operational before the entire project is completed, thus enhancing operational efficiency during the first year. Click here To view the announcement on Saudi Exchange (Tadawul)

2- Appointing Professor Obaid bin Saad AlMotairy as a member of the Board of Directors, replacing the resigned member, effective from 03-06-1446 AH, corresponding to 04-12-2024, until the end of the current board term.

3- Appointment of Dr. Abdullah bin Omar Al-Husseini as a member of the Remuneration and Nominations Committee, replacing the resigned member, effective from 03-06-1446 AH, corresponding to 04-12-2024, until the end of the current committee term.

The Board of Directors would like to thank Mr. Zaid Nehad Al-Nathir for his efforts and wish him all the best. Click here To view the announcement on Saudi Exchange (Tadawul)

Net profit decrease reason is due to sales decreased and expenses increased caused by financial impact of entering the poultry sector, and costs related to execute its branch expansion strategy.

The company achieved 9% increase in revenue in the current quarter compared to the previous quarter of this year. This growth reason due to the increase in retail sales table egg sector sales, and logistic transportation revenue.

Despite an increase in operating profit in the current quarter compared to the previous quarter, net profit decreased by 8.5%. This decline was primarily due to several non-operational factors, including reduced the capital gains from asset sales, as well as 

previously disclosed sale of the Riyadh factory land and the decrease in Time deposit revenue.

The company’s revenue for the current period decreased by 8.3% primarily due to a decline in wholesale sales. At the same time the company focused on retail expansion strategy which caused an 33% growth in retails sector.

Net profit decreased in the current period compared to the same period last year, impacted by several key factors. The most significant was the company’s strategic entry into the table egg production sector as part of company aims to revenue diversification, Additionally increased selling and distribution expenses related to branch expansion, a decrease in other revenue streams, and formed provision for doubtful receivables further contributed to the decrease in net profit. Click here To view the announcement on Saudi Exchange (Tadawul)

The reason for the decrease in the company’s sales is attributed to changes in sales in both the retail and wholesale sectors, resulting from the company’s strategy aimed at expanding the opening of retail branches. This expansion led to an increase in retail sales; however, the decline in wholesale sales contributed to the overall decrease in sales. Furthermore, changes in demand for different products due to shifts in consumer behavior resulted in an increase in the share of low-priced products, which contributed to the decline in sales.

The reason for the decrease in net profit during the current quarter can be attributed to the decline in sales in the water sector, along with an increase in expenses related to the opening and expansion of branches. Additionally, rising transportation costs due to fuel price hikes have played a role. This decrease was also supported by expenses in the poultry sector, which is still under the company’s future expansion plan.

Sales in the current quarter decreased by 2.9% compared to the previous quarter. This decline resulted from a decrease in wholesale sales due to the company’s focus on enhancing branch openings and expanding retail sales. Additionally, the overlap of holidays with the current quarter had a negative impact on sales compared to the previous quarter.

The company achieved growth equivalent to 39% in net profit after zakat. This increase was supported by capital gains resulting from the exclusion of assets related to the company’s expansion plans. This growth occurred despite the decrease in sales. The earnings per share for the current quarter reached SAR 0.55.

Sales decreased by 7.5% due to changes in sales in both the retail and wholesale sectors, resulting from the company’s strategy aimed at expanding the opening of retail branches. This decline was also supported by a shift in the sales mix of water products due to consumer preferences towards purchasing lower-priced varieties.

The reason for the decrease in net profit during the current period compared to the same period is attributed to a decline in sales in the water sector, along with an increase in expenses related to opening and expanding branches. Additionally, rising transportation costs due to fuel price hikes have had an impact. This decrease was further supported by expenses in the poultry sector, which is still part of the company’s future expansion plan. Moreover, this decline was reinforced by a shift in the sales mix of water products due to consumer preferences towards purchasing lower-margin varieties. Click here To view the announcement on Saudi Exchange (Tadawul