Improved product mix, revenue offset poultry price pressures: Almunajem CEO

Thamer Abanumay, CEO of Almunajem Foods

Almunajem Foods Co.’s diversified product portfolio and growing demand across retail and foodservice channels supported revenue growth despite pricing pressures on poultry products caused by excess supply in the local market, CEO Thamer Abanumay told Argaam in a telephone interview.

The company is focused on improving performance in Q4 2025 through several internal initiatives to enhance operational efficiency, boost profitability, and strengthen its presence in the retail and foodservice sectors.

Demand for food products remains relatively stable across most categories, with some segments continuing to grow, while prices have stayed steady thanks to improved supply chain efficiencies and a broader supplier base, Abanumay said.

The CEO highlighted the company’s expansion plans, including the rapid progress on a new meat factory that is expected to begin operations in Q2 2026.

The plant will produce over 35,000 tons of value-added products, including meat, poultry, fish, and dairy derivatives.

He also noted that the company’s subsidiary, Optimal Solution for Logistics Services Co. (Loadly), signed a SAR 55 million contract with a medical services company to provide specialized, high-efficiency pharmaceutical logistics services over the next four years, starting November 2025.

Additionally, Almunajem is working to expand Loadly’s storage capacity from 42,000 pallet positions currently to 180,000 by the end of 2026, with 62,000 positions scheduled to be operational in Jeddah during Q2 2026.

Commenting on financial results, the CEO said all regions recorded revenue growth in Q3 2025 compared to the same period last year. The Central Province led with 3.6% growth, followed by the western and southern regions at 1.7%.

He attributed the revenue increase to a 9.4% rise in sales volumes across various categories, despite a 6.6% decline in average selling prices due to lower prices in red and white meat products, particularly poultry.

The growth in sales volumes was driven by a 12% rise in demand in retail and foodservice channels, particularly during the back-to-school season.

According to data available with Argaam, Almunajem’s reported a net profit of SAR 102.7 million for the first nine months of 2025, a 53% fall from SAR 218.3 million in the year-earlier period. Q3 2025 profit also declined 22% to SAR 31.7 million.