Shaker eyes opportunities arising from government megaprojects: CEO

Mohammed Ibrahim Abunayyan, CEO of Al Hassan Ghazi Ibrahim Shaker Co.

Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) will continue to pursue opportunities emerging from the government’s commitment to megaprojects across Saudi Arabia, said chief executive officer (CEO) Mohammed Ibrahim Abunayyan.

He added the company will continue to focus on this area significantly in the coming period.

Shaker is looking to innovate across the supply chain and invest in technology to further optimize its operational model, as new technology increases production speed and accuracy and allows the manufacture of several components parts in-house.

Commenting on Q1 2021 financials, the CEO indicated that flexibility in operations led to strong sales and profits despite challenging market conditions.

He explained that the company rolled out its 2021-2023 strategy, indicating it continues to expand its footprint in core sectors, such as air conditioning and home appliances, by growing its brand portfolio and seeking new opportunities in the market.

According to data compiled by Argaam, Shaker reported a net profit of SAR 6.3 million, compared to a net loss of SAR 1.5 million in the year-earlier period.