{"id":65305,"date":"2023-02-14T08:38:56","date_gmt":"2023-02-14T05:38:56","guid":{"rendered":"https:\/\/indexeconomic.com\/?p=65305"},"modified":"2023-02-14T08:38:57","modified_gmt":"2023-02-14T05:38:57","slug":"tanmiah-achieves-substantial-improvement-in-profitability-with-strong-prospects-for-growth","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=65305","title":{"rendered":"<strong>Tanmiah achieves substantial improvement in profitability, with strong prospects for growth<\/strong>"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p class=\"has-text-align-left\"><a>Tanmiah <\/a>Food Company (\u201cTanmiah\u201d or the \u201cCompany\u201d, 2281 on the Saudi Exchange), announced its results for year ending on 31 December 2022, with a 42.8% year-on-year (YoY) rise in revenues to SAR <a>1,727.0 <\/a>million.<\/p>\n\n\n\n<p class=\"has-text-align-left\">Gross margin substantially improved from 19.2% in FY2021 to 24.3%, while EBITDA of SAR 220.3 million (+142.5% YoY) yielded a margin of 13%. Net profit attributable to owners of the company increased significantly from SAR 13.6 million to SAR 186.8 million. This increase is due to a one-off gain amounting to SAR 101.9 million recorded in the income statement, resulting from the Tyson transaction, which involved&nbsp; acquisition of a 60% equity stake in Supreme Foods Processing Company (SFPC).<\/p>\n\n\n\n<p class=\"has-text-align-left\"><strong>Growth Strategy <a><\/a><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-left\">As the company concludes yet another successful year in its long journey, the solid foundation has remained in place, to allow Tanmiah to continue to progress in terms of its expansion agenda. The Company is strongly positioned to embark on a new phase of growth and development, aided by expansion across all stages of the value chain and access to new geographies that will enable Tanmiah to unlock multiple opportunities in the fast-growing global Halal food market. This collaboration is set to accelerate the Company\u2019s growth and reinforce its commitment to the Kingdom\u2019s objectives of food security and self-sufficiency, whilst bringing world-class industry know-how to the domestic market. &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tanmiah Food Company (\u201cTanmiah\u201d or the \u201cCompany\u201d, 2281 on the Saudi Exchange), announced its results for year ending on 31 December 2022, with a 42.8% year-on-year (YoY) rise in revenues to SAR 1,727.0 million. Gross margin substantially improved from 19.2% in FY2021 to 24.3%, while EBITDA of SAR 220.3 million (+142.5% YoY) yielded a margin &hellip;<\/p>\n","protected":false},"author":2,"featured_media":65306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-65305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tanmiah achieves substantial improvement in profitability, with strong prospects for growth - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indexeconomic.com\/?p=65305\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tanmiah achieves substantial improvement in profitability, with strong prospects for growth - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\" \/>\n<meta property=\"og:description\" content=\"Tanmiah Food Company (\u201cTanmiah\u201d or the \u201cCompany\u201d, 2281 on the Saudi Exchange), announced its results for year ending on 31 December 2022, with a 42.8% year-on-year (YoY) rise in revenues to SAR 1,727.0 million. 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