Baladna, Qatar’s leading dairy and beverage company, is confident to achieve growth in the current year despite the challenging situation due to coronavirus pandemic.
“Baladna stands for successful growth and perseverance, and we remain well positioned for growth in 2021 despite the challenging times expected to continue in the foreseeable future,” said the company in its latest results presentation.
“Baladna has demonstrated resilience and agility throughout the pandemic, and we are confident in our ability to continue to grow and strengthen our core business and categories.
We also believe that there are further opportunities to drive efficiencies across our value chain which we will continue to optimize,” said the company.
Company’s revenue has remained strong throughout during the first quarter of this year as Balanda continues to dominate in market share across several categories, adding new product lines and a total of 13 new Stock Keeping Unit (SKUs) during the first quarter.
During the first quarter of this year, company’s farm performance significantly improved in form of higher yield and herd size with growth of 1 percent and 9 percent, respectively, compared to first quarter of 2020.
The company has witnessed growth across most categories with significant year-on-year growth within creams (108 percent), other dairy (92 percent), cheese (19 percent), and other revenue (47 percent), during the first quarter of 2021.
The company is also expected to launch new products in the second quarter of this year and further explore export avenues. “Baladna currently has a strong pipeline of innovative products that are expected to be launched in the second quarter of 2021.
Baladna is continuously assessing growth opportunities within Qatar and abroad – we are in a strong position to leverage on our existing asset base to develop an export business, as well as transfer our experience and knowledge business model to South Asia,” said the company. Company’s Revenue in Q1 of this year stood at QR182m, compared to QR181m in Q1 of last year.
The business delivered a strong net profit of QR44m, an increase of 54 percent versus previous year, representing a net profit margin of 24 percent.
As a result of the reinstated lockdown restrictions imposed by the MOPH, the company expects volatility in demand to continue and the timing of lifting of restrictions to be crucial in determining the impact on Baladna.
“Baladna remains dedicated to explore further opportunities across the retail and HORECA (Hotels, Restaurants and Catering) channels and to continuously review and improve its product portfolio to ensure that its customers’ requirements are met with quality and innovative products,” said the company.
