Ramez Al-Khayyat interview on Bloomberg Daybreak Middle East, 19 August 2021

24 August 2021

On 19 August 2021, Ramez Al-Khayyat was interviewed by Bloomberg News’ ‘Bloomberg Daybreak: Middle East’ on the publication of Baladna’s financial results for the first half of FY22. Ramez spoke of the Company’s strong efficiencies, its people and integration which contributed to a first half net profit of 86m Riyals, an increase of 19% from last year. Ahead of the FIFA World Cup in Qatar next year, Ramez spoke about the Group’s ongoing product innovation, with nine new products developed this year and more than 25 expected by the end of the year. The Memorandum of Collaboration signed with Malaysia to produce 100m litres of milk over the coming years was also discussed. Ramez spoke about improving efficiencies in the supply chain and confirmed there are no current plans to pass on increasing freight costs to consumers. Fully integrated farms will be important to secure the supply of dairy products for governments in the future, according to Ramez. Speaking about climate change and wider global environmental concerns, Ramez discussed Baladna’s five-year strategy to make all packaging environmentally friendly and the Company’s circular waste management system.
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