Baladna achieves net profit of QAR 26 million in Q1 2022
Gulf Times
Baladna Q.P.S.C. (Baladna) has announced its quarterly results for the three months period ended 31st March 2022 (Q1 2022). Following its strong operational performance in the year 2021:
Baladna recorded a revenue of QAR 239 million in Q1 2022 which is 31% growth compared to same period last year. Net Profit has reached QR 26 million, a decline of 41% compared to last year same period as a result of higher global commodity prices specially feed, raw material and packaging materials. Baladna has submitted the request to Ministry for increasing the selling prices and waiting for the approval.
In order to mitigate inflationary concerns, Baladna focused on increasing sale volumes through increasing its market share in most of the categories and focusing more on Horeca channels.
Furthermore, Baladna enhanced operational efficiencies, in particular, managing its herd, resulting in a higher milk yield of 39.3 liters per day per cow in Q1 2022 compared to 38.4 liters in Q1 2021. Additionally, efficiencies in the manufacturing process, reduction in sales wastage through improved controls and systems as well as cost control of overheads.
