Balady CEO expects continued high demand for poultry products

Turki bin Hashbal, CEO of Balady Poultry Trading Co.

Balady Poultry Trading Co.’s CEO Turki bin Hashbal said that local poultry production has not yet reached the 80% self-sufficiency target in the Kingdom, which is expected by 2025.

As a result, there will be continued high demand for poultry products, he added.

The broiler sector is the largest contributor to the company's revenues and profits, contributing more than 72% to its revenues, he told Argaam in a phone interview.

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As for the financial results, the CEO pointed out that the year-on-year (YoY) increase in sales and daily production rate were the primary factors in higher earnings. He said that average daily production rose by 28% to 194,000 birds in H1 2024, compared to about 152,000 birds in the same period last year.

Bin Hashbal disclosed that Balady plans to invest in egg-laying hens and mothers of broiler chickens in the coming years.

The company specializes in producing chilled poultry meat, the CEO said, noting that frozen poultry sales do not constitute a large percentage of production.

According to data available with Argaam, Balady reported a net profit of SAR 71.9 million in H1 2024, a 79% increase from SAR 40.3 million a year earlier.