logo
logo
  • Home
  • TRAVEL
  • HOTELS
  • RESTAURANTS
  • FOOD RETAIL
  • TECH NEWS
  • EXECUTIVE TALKS
  • EVENTS
  • Home
  • TRAVEL
  • HOTELS
  • RESTAURANTS
  • FOOD RETAIL
  • TECH NEWS
  • EXECUTIVE TALKS
  • EVENTS

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram YouTube LinkedIn
Tuesday, March 28
Facebook Twitter Instagram YouTube LinkedIn
Eat ‘N StaysEat ‘N Stays
  • Home
  • TRAVEL
  • HOTELS
  • RESTAURANTS
  • FOOD RETAIL
  • TECH NEWS
  • EXECUTIVE TALKS
  • EVENTS
Home»Food Retail»Tanmiah revenue up 42.8% year-on-year to SR1,727m
Food Retail

Tanmiah revenue up 42.8% year-on-year to SR1,727m

Eat 'N StaysBy Eat 'N StaysFebruary 14, 2023No Comments2 Mins Read29 Views
Facebook Twitter Pinterest LinkedIn Telegram Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Tanmiah Food Company has announced its results for the year ending on Dec. 31, 2022, reporting a 42.8 percent year-on-year rise in revenues to SR1,727 million.

The gross margin substantially improved from 19.2 percent in FY2021 to 24.3 percent, while the EBITDA of SR220.3 million (+142.5 percent year-on-year) yielded a margin of 13 percent. The net profit attributable to owners of the company increased significantly from SR13.6 million to SR186.8 million. This increase is due to a one-off gain amounting to SR101.9 million recorded in the income statement, resulting from the Tyson transaction, which involved the acquisition of a 60 percent equity stake in Supreme Foods Processing Company.

Growth strategy

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’s growth and reinforce its commitment to the Kingdom’s objectives of food security and self-sufficiency, whilst bringing world-class industry know-how to the domestic market.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Eat 'N Stays
  • Website

Related Posts

Premium Norwegian Water EIRA Announces a Partnership with MICHELIN in the USA, Middle East, and some Asian and European Countries in 2023

March 27, 2023

UAE Food Bank and Dubai Cares to benefit from Choithrams “Double Blessings” Campaign

March 27, 2023

Nestlé Investing SAR 7 billion in Kingdom of Saudi Arabia Over 10 Years

March 25, 2023

Nominate a ‘Champion of Ramadan’ to Win with Carrefour

March 24, 2023

EIRA Water Announces Partnership with Leading Global Hospitality Group – Majestas

March 23, 2023

Tamimi Markets announces Ramadan’s special offers and charitable campaign

March 22, 2023

Leave A Reply Cancel Reply

You must be logged in to post a comment.

Advertisement
 Advertise
Eat ‘N Stays
Facebook Twitter Instagram Pinterest YouTube Dribbble
  • Home
  • About Us
  • Contact Us
  • Archive
© Copyright © 2023, Eat ‘N Stays. All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

Stay ahead and get up to date coverage of your industry news and trends.
Eat ‘N Stays is owned by: GLOBAL HOSPITALITY & TRAVEL – FZCO

Contact Details

  • KSA: +966 509749018
  • UAE: +971 504023725
  • Email us
  • Contact us for Advertisement
Facebook Twitter YouTube LinkedIn Instagram

Our Picks

Dave’s Hot Chicken – Ramadan Hot Box Ramadan Exclusive

March 28, 2023

Travel for Better Health: BDMS Wellness Clinic Retreat at Anantara Riverside Bangkok Launches Preventive Health Check-Up Package

March 28, 2023

Experience the Magic of Eid Al Fitr with Avani’s Exquisite Staycation Packages

March 28, 2023
© Copyright © 2023, Eat ‘N Stays. All rights reserved.
  • Privacy Policy
  • Archive
  • About us
  • Contact us