Baladna Achieves Record Revenue Amidst Strategic Shifts
Source: dairynews.today
Baladna reports record-high revenue for FY2024 along with strategic expansions, despite a setback in Malaysia.
Baladna has reported its financial results for FY2024, achieving a record-high revenue of QAR1.15 billion (US$), an 8% increase year-on-year.
The company's net profit also saw a significant rise, climbing 69% to QAR185 million (US$). Already holding a dominant position in Qatar's dairy market, Baladna is exploring new strategies to maintain growth. On the consumer front, high-protein milk and yoghurt segments are being targeted, marked by the introduction of new innovations.
The firm expanded its portfolio with 39 new products in 2024, including new Greek yoghurt flavors and a broadened cheese range.
The company's net profit also saw a significant rise, climbing 69% to QAR185 million (US$). Already holding a dominant position in Qatar's dairy market, Baladna is exploring new strategies to maintain growth. On the consumer front, high-protein milk and yoghurt segments are being targeted, marked by the introduction of new innovations.
The firm expanded its portfolio with 39 new products in 2024, including new Greek yoghurt flavors and a broadened cheese range.
Additionally, Baladna announced a joint venture with the Algerian National Investment Fund to create the world’s largest vertically integrated dairy farm. This follows a terminated venture in Malaysia due to unmet conditions in the shareholder agreement, as disclosed by FGV Holdings. While Baladna has not commented on this termination, the Malaysian project, planned to cost QAR3.6 billion (US$986.4 million), was expected to significantly boost milk production by 2025. Despite the setback, Baladna continues to expand its international footprint and product lines.
