Baladna achieves net profit of QAR 48 million for the first half of 2022
Gulf Times
Baladna Q.P.S.C. Monday announced its results for the six months period ended 30 June 2022 (H1 2022).
Baladna was able to effectively grow its top line in Q2 2022 and achieved a revenue of QAR 245 million compared to QAR 239 million revenue in Q1 2022. At the same time, net profit for Q2 2022 was recorded at QAR 22 million compared to QAR 26 million in Q1 2022. Higher global commodity prices especially feed, raw material and packaging material largely impacted our profitability margins, and will worsen during Q3 and Q4, as now we are still using previously procured stocks of raw material purchased at low prices.
Baladna is currently in the process of receiving the Ministerial approval to increase our selling prices. All peers in the region have already received 2 or 3 price increases.
