Latest news with #TanmiahFoodCo.
Argaam
20-04-2025
- Business
- Argaam
Tanmiah's poultry market share hits 20%: CEO
Tanmiah Food Co. has a market share of about 22% in terms of volume in the retail segment in the poultry market within the hypermarket and supermarket channels, which are the largest retail channels in Saudi Arabia, said CEO Sayed Zulfiqar Al-Hamdani. 'The company has a vital position and supplies its products to brands such as McDonald's and Burger King,' he added. In an interview with Argaam on the sidelines of the Middle East Poultry Exhibition, the top executive stated that Q4 2024 was one of the best performing quarters in the company's history, despite the challenges seen in the market. He stressed that the quality of products and the strength of the brand were among the main factors that helped the company achieve this performance, in addition to expanding the distribution network and launching new products that bolstered its position in the local market. Additionally, partnerships with international companies have enabled the company to benefit from international best practices in the areas of quality, innovation and customer service, which reflected positively on its performance, Al-Hamdani further said. He pointed out that Tanmiah is going through a phase of rapid growth, indicating that it has five expansion projects that include new slaughterhouses, farms, processing plants, and distribution centers. This is in addition to launching more nutritious and convenient products for consumers, which facilitate the cooking process for them and are characterized by a better taste, in line with Tanmiah's product strategy to meet consumer needs for healthy and easy-to-prepare products. 'Furthermore, the company is currently working on strengthening its presence in the ready-made meals sector. It has launched a batch of new products, many of which will be rolled out in the market very soon, such as the new production line that was recently launched, which is a group of ready-to-cook products,' said the CEO. He also indicated that the company is focused on providing ready-to-cook meals that simulate the traditional flavors of Saudi cuisine, instead of relying on traditional international products such as burgers and nuggets, pointing out that these products are being developed and they will be launched under different brands. 'Tanmiah's growth strategy is mainly based on partnerships, both international ones such as with Tyson, RBI and MHP, or local ones through partnerships with local farmers whose farms are managed on a lease and development model, where the company provides them with the necessary expertise and equipment, which boosts the growth of the sector in general,' said Al-Hamdani. The company has recently signed agreements and partnerships with international companies such as Griffith Foods, which is specialized in spices and food ingredients, Vibra Foods, which is one of the world's largest producers and suppliers of poultry, the Chengdu Institute of Design and Research (CDI) and Emerge in the field of solar energy. These partnerships enable Tanmiah to accelerate growth using advanced technologies and with higher efficiency, as it will continue to grow, leveraging the best-in-class global companies, technologies and expertise, to be able to advance faster and more cost-effectively, according to the CEO. Commenting on competition in the market, Al-Hamdani said that the goal of all companies is to achieve food security in the Kingdom in line with Vision 2030, adding that the poultry market is witnessing fierce competition, but Tanmiah's strategy focuses on excellence through quality, innovation and the level of service. As for his expectations for his company's results for Q1 2025, Al-Hamdani confirmed that it is not possible to disclose results or expectations that are not officially announced, stressing that the company has flexibility and innovation enough to overcome challenges and continue on its upward movement.
Argaam
03-03-2025
- Business
- Argaam
Tanmiah inks MoU with Griffith Foods to explore cooperation
Tanmiah Food Co. signed today, March 3, a two-year memorandum of understanding with Griffith Foods, which targets collaboration to diversify the company's product portfolio, expand regional distribution, and advance the Kingdom's Vision 2030 objectives of food security and self-sufficiency, in addition to driving sustainability across the supply chain, the company said, in a statement to Tadawul. The MoU also aims to conduct studies and evaluate the following areas of joint interest: Entering into a supply agreement to strengthen product availability and support growth in the targeted market segments, as well as exploring the establishment of a joint venture in Saudi Arabia to expand market reach, it added. Furthermore, it targets exploring collaboration to enhance halal ingredients production capabilities, including the establishment of a state-of-the-art R&D center in Saudi Arabia, dedicated to food innovation, product formulation and the development of healthier food solutions. This is in addition to assessing feasibility of a production facility in Saudi Arabia for local production of Halal food ingredients to serve Saudi Arabia and the GCC markets. Any future financial impact and any material developments will be announced in due course, the company noted. Griffith Foods is a global product development and production company specializing in customized food ingredient solutions.
Arab News
26-02-2025
- Business
- Arab News
Growing global halal industry requires innovation, say Makkah forum participants
MAKKAH: Participants at the Makkah Halal Forum have been exchanging ideas, including on new technologies, to boost the global industry and strengthen Saudi Arabia's position in this sector. The event, which opened on Feb. 25 and ends on Thursday, is being held at the Makkah Chamber of Commerce Exhibition and Events Center under the theme 'Sustainable Development Through Halal.' The event brings together leaders in the sector from across the world to discuss innovations, best practices, and sustainability. The event focuses on addressing challenges and shaping the future of the halal industry, with companies from 150 countries forming strategic partnerships to expand halal trade and support emerging businesses. The global halal market is projected to reach $7.7 trillion by 2025, with the halal food and beverage sector contributing $3.3 trillion. By 2034, the global halal market is expected to grow to $9.45 trillion, at an annual rate of 12.42 percent, according to the Saudi Press Agency. Zulfiqar Hamadani, CEO of Tanmiah Food Co., emphasized the rapid growth of the halal food industry in global markets, citing increasing consumer awareness and demand for sustainable, healthier food options. Speaking on the evolving perception of halal products, Hamadani highlighted key challenges and opportunities for the industry. 'Halal is the fastest-growing protein type in the global market,' he said. 'There are challenges to overcome, but consumers in the West and non-Muslim-majority countries are already recognizing that halal is more sustainable and healthier.' One of the primary reasons, Hamadani explained, is the halal slaughtering process, which ensures the complete drainage of blood from the animal, reducing the risk of diseases, particularly zoonotic ones. However, he stressed that halal is more than just the method of slaughter. Hamadani called for the strengthening of the certification process to enhance consumer trust and ensure consistency in halal standards worldwide. 'Certification is the first thing we need to achieve,' he said, urging industry leaders to work on standardizing regulations. He also emphasized the importance of research and development to modernize halal food offerings. Traditionally, halal has been associated primarily with slaughtering methods. But he pointed out that it extends to every aspect of food production — from farm to fork. This includes Shariah-compliant financing, ethical animal treatment, and sustainable agricultural practices. Igor Marti, vice president of halal markets at BRF Foods, shared his insights on how the halal industry can adapt to evolving consumer demands, stating: 'In today's fast-paced world, consumers seek convenience without compromising on health and transparency.' 'Ninety-eight percent of all the energy we have consumed at BRF Foods came from renewable sources,' Marti added. Irwandi Jaswir, deputy dean of the International Institute for Halal Research and Training at the International Islamic University Malaysia, underscored the critical role of innovation and research in unifying halal standards, promoting sustainability, and ensuring ethical compliance in the global market. Speaking at the first panel session, 'Industry Innovation for Sustainable Halal Food and Beverage,' Irwandi emphasized the need for collaborative efforts and cutting-edge solutions to address the evolving challenges in the halal food and beverage sector. Yousef Khalawi, secretary-general of the Islamic Chamber of Commerce and Development, highlighted the need for robust control and accreditation mechanisms to ensure the safety and quality of halal products. He emphasized that while everything is considered halal in Muslim countries by default, the complexities of modern life — particularly the importation of food products — require thorough verification of ingredients such as flavors, colors, and stabilizers used in food manufacturing. During the second panel discussion, Dino Selimovic, adviser to the minister of foreign affairs of Bosnia and Herzegovina, emphasized Europe's cultural, ethnic, and religious diversity and highlighted the nation's role in introducing the halal lifestyle to the region. He noted the growing presence of halal-certified products and services, stating that the country now has over 10,000. Iqbal Sacranie, chairman of the Muslim Trade Forum UK, highlighted the rapid growth of the halal economy in the UK and across Europe. Despite Muslims comprising only about 6 percent of the UK population — around 4 to 5 million people — Sacranie noted that the expansion is also driven by ethical considerations, with many non-Muslims increasingly engaging in sectors such as Shariah-compliant finance.
Argaam
17-02-2025
- Business
- Argaam
Tanmiah signs MoU with Brazilian firm to explore investment opportunities
Tanmiah Food Co. signed a memorandum of understanding (MoU) with Vibra Agroindustrial S/A (Vibra), one of Brazil's largest poultry producers and exporters, to explore potential investment and strategic collaboration opportunities, the company said in a statement to Tadawul today, Feb. 17. The MoU is valid for two months, with an option for extension if mutually agreed. It aligns with Tanmiah's commitment to food security, self-sufficiency, and global partnerships. The MoU lays the groundwork for collaboration in two key areas. First, Tanmiah aims to expand its further processing capacity and efficiency through investment. Second, the two companies plan to develop a Saudi-based global Halal brand by leveraging Saudi Halal standards and Vibra's cost-efficient production capabilities in Brazil. This collaboration is expected to drive innovation, streamline supply chains, and expand Halal market reach. Tanmiah stated that these efforts support its strategic vision for sustainable growth and leadership in the global food industry and are aligned with Saudi Arabia's Vision 2030, which aims to enhance national food security.
Arab News
16-02-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 12,372
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Sunday, losing 12.93 points, or 0.10 percent, to close at 12,372.07. The total trading turnover of the benchmark index was SR4.1 billion ($1.09 billion), as 85 of the stocks advanced and 137 retreated. However, the Kingdom's parallel market, Nomu, gained 121.76 points, or 0.39 percent, to close at 31,737, as 44 stocks advanced while 40 declined. The MSCI Tadawul Index lost 1.11 points, or 0.07 percent, to close at 1,537.16. The best-performing stock of the day was AYYAN Investment Co., whose share price surged 4.67 percent to SR17.48. Other top performers included Tanmiah Food Co., which climbed 4.27 percent to SR132, and Ash-Sharqiyah Development Co., which surged 4.16 percent to SR22.52. Saudi Reinsurance Co. declined 3.28 percent to SR56.00, while Savola Group slipped 2.84 percent to SR37.65. On the announcements front, Dr. Sulaiman Al-Habib Medical Services Group reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company posted a net profit of SR2.3 billion in 2024, marking a 13.16 percent increase from 2023. The growth was driven by higher revenue, attributed to a surge in patient numbers and increased inpatient occupancy. The firm also announced its board of directors' recommendation to distribute SR430.5 million in cash dividends to shareholders for the fourth quarter of the 2024 fiscal year. A bourse filing showed that 350 million shares are eligible for dividends, with a payout of SR1.23 per share. The statement further noted that the dividend-to-par value ratio stood at 12.3 percent. Dr. Sulaiman Al-Habib Medical Services Group closed at SR300, down 0.87 percent. Umm Al-Qura for Development and Construction Co. announced the start of the institutional book-building period for its initial public offering, which comprises 130.7 million new ordinary shares for public subscription, representing 9.09 percent of the company's shares post-capital increase. A Tadawul statement revealed that the price range for the offering has been set between SR14 and SR15 per share. The minimum subscription for participating parties is 100,000 ordinary shares, while the maximum allocation is 71.9 million shares. Meanwhile, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR95.8 million in 2024, marking a 26.2 percent increase from the previous year. The rise in profit was primarily driven by operational efficiencies and cost optimization.
