Tanmiah profit drops 57% to SAR 19.4M in H1 2025; Q2 at SAR 500,000

Tanmiah Food Co. reported a net profit of SAR 19.4 million in H1 2025, down 57% from SAR 45 million a year earlier.

Higher fuel and electricity costs, pricing pressure in the fresh poultry segment, increased selling and distribution expenses, elevated financing costs (FCs), and, to a lesser extent, lower government subsidies weighed on the six-month profitability.

This was partially offset by an 8.6% year-on-year (YoY) rise in H1 2025 revenue to SAR 1.32 billion, supported by higher fresh poultry production volumes, a wider customer base for feed and animal health products, and the expanded Popeyes restaurant network.

In Q2 2025, net income shrank by 98% to SAR 500,000, against SAR 24.02 million in the year before. This was despite a 1.5% YoY topline hike to SAR 649.5 million by the end of the quarter, driven by organic growth in Popeyes operations as well as an expanded customer base for feed and animal health products.

On a sequential basis, profit fell 97.4% from SAR 18.89 million in the first quarter of this year. This followed a 4.1% quarter-on-quarter (QoQ) drop in revenues to SAR 649.5 million, pressured by higher imports to meet seasonal demand, increased local production, and intensified supply-side competition, alongside higher fuel, electricity, selling, distribution, and FCs.

Total shareholders’ equity, after minority interest, stood at SAR 656.6 million by June 30, 2025, compared to SAR 625.8 million a year earlier.

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