23 Hrs
Source:
الاقتصادية
Nādak Boosts Protein Revenue for Red Meat Market
The Saudi company "NADEC" has announced that it aims to diversify its revenue streams and develop its protein sector, focusing on the production of packaged red meats and the development of ready-to-sell retail products. The goal is to strengthen its market share and reduce reliance on its core sectors such as dairy and food manufacturing. The protein sector's revenues increased by 69.1% during the first nine months of the year, as the company worked to expand its operations through the establishment of a slaughterhouse in Haradh and the acquisition of Al Raji National for Livestock. It is also developing the entire value chain and packaging meats for direct consumption. Despite rising costs and their negative impact on profits, which declined by 72.5% in the third quarter, NADEC is focusing on improving operational efficiency and increasing productivity. The company is investing to strengthen local capabilities in the fields of meat and agriculture, aiming to achieve sustainable food security and diversify food sources within the Kingdom.
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