Tanmiah Food makes 95% of revenues from Saudi market: CEO

Logo of Tanmiah Food Co.

Zulfiqar Hamadani, CEO of Tanmiah Food Co., said Saudi Arabia is the company’s primary market in poultry and restaurant activities, representing 94% to 95% of its total revenues, Asharq Business reported.

He added that the Kingdom will remain Tanmiah's top pick, with an eye to maintain the market’s share to total revenues above 90%.

The company reported growth in poultry sales across all markets, including the UAE, where it has started selling fresh poultry. It also plans to strengthen its presence in Bahrain, Hamadani said.

He added that the Popeyes restaurant chain started with one store in Bahrain, before currently having a branch network of 65 stores in the Kingdom.

The recent increase in revenues and earnings was attributed to improved efficiency resulting from reaping the fruits of initiatives undertaken last year, coupled with the launch of new quality products and brands, the CEO said, anticipating this growth to prevail in the near future.

According to the top executive, Tanmiah's production capacity would reach 535,000 birds per day by year-end, thanks to the company’s investment in new horizons and the construction of new factories that are slated to come into force this year. This is in addition to the latest restoration of its equipment and facilities to enhance the quality of products and ramp up efficiency.

He added that Tanmiah's recent partnership with the Public Investment Fund (PIF)-affiliated Halal Products Development Co. (HPDC) is witnessing remarkable progress, as international opportunities are being sought in cooperation with global partners in order to develop a joint brand.

As for the memorandum of understanding (MoU) signed last year with Brazil's Vibra Agroindustrial SA, Hamadani explained that work is proceeding according to schedule and the exchange of technical knowledge and information has already

begun. Products resulting from this partnership are expected to be introduced to the market in the coming period, he confirmed.

The top executive also stated that the Saudi fresh poultry sector is deemed one of the fastest growing globally in terms of local production for mitigating the key challenges it had previously faced. He said the sector is on track to maturity, which could pave the way for some mergers and acquisitions.