Riyadh – Mubasher: The board of Almarai Company greenlighted a strategic plan for the five years ending on 31 December 2028, with an investment programme exceeding SAR 18 billion.
The plan aims to enhance continuous growth, enlarge sales, and boost financial performance across multiple segments, according to a bourse disclosure.
Nearly SAR 7 billion will be dedicated to poultry expansion, while a total of SAR 5 billion will be used to enhance existing core product categories.
The Saudi company added that it will utilize SAR 1 billion to enter promising new food segments and SAR 4 billion to develop supply chain and sales capabilities in order to back local and regional expansion plans.
The remaining SAR 1 billion will accelerate technology development in line with the company's commitment to invest in innovation.
It is worth highlighting that the board members approved the growth plan, on 18 March 2024, to support the Kingdom Vision 2050.
In the January-December 2023 period, Almarai recorded net profits amounting to SAR 2.04 billion, up 16.43% year-on-year (YoY) from SAR 1.75 billion.
