Almarai Unveils $4.8 Billion Strategic Plan for Growth Through 2028

Almarai Unveils $4.8 Billion Strategic Plan for Growth Through 2028

By Staff Writer, 20 March 2024

Almarai Company's board has given the green light to a comprehensive strategic plan extending to December 31, 2028, backed by an ambitious investment program surpassing SAR 18 billion.

This blueprint, disclosed to the bourse, is designed to propel sustained growth, expand sales avenues, and fortify financial performance across various sectors.

Of the total investment, nearly SAR 7 billion will be channeled into poultry expansion endeavors, while SAR 5 billion is earmarked for bolstering existing core product categories.

Furthermore, the Saudi-based firm outlined plans to allocate SAR 1 billion towards venturing into promising new food sectors and SAR 4 billion to fortify supply chain and sales capabilities, supporting its ambitions for local and regional expansion.

A notable SAR 1 billion will be dedicated to accelerating technological advancements, aligning with the company's dedication to fostering innovation.

Board members unanimously approved this growth-centric agenda on March 18, 2024, in alignment with the Kingdom Vision 2050.

In terms of financial performance, Almarai reported a significant uptick in net profits during the January-December 2023 period, soaring to SAR 2.04 billion, marking a robust 16.43% increase compared to SAR 1.75 billion in the corresponding period of the previous year.

Source: Mubasher

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