Al-Mutairi: Aleid Foods achieved the highest revenues in its history and its financial indicators were positive.
Kuwait – April 2, 2023:
Aleid Foods Company organized the second financial analysts and investors’ conference call in collaboration with Arqaam Capital to discuss the company’s financial statements and tailwind and headwind factors related to its indicators in the quarter four and full-year 2022.
Aleid Foods Company CEO, Eng. Mohammad Al-Mutairi, reviewed in detail the company’s financial and operational performance during the year 2022 in general including the fourth quarter of the same year, indicating that the company achieved the highest revenues in its history and its financial indicators were positive, due to the performance of its experienced team and its active contribution to the development of various business sectors, advancing the company’s subsidiaries and strengthening relations with partners and investors.
Al-Mutairi added, stressing Aleid Foods’ commitment to maintaining the minimum limits of loans necessary for operational development, especially with the high rates of inflation, pointing out that the percentage of loans’ contribution to the company’s business does not exceed 36%, which is far lower than the market practices.
As part of Aleid Foods’ efforts to diversify its sources of income to balance the financial returns of its various business sectors, Al-Mutairi explained the company’s success in reducing the distribution sector’s contribution to the total income during the year 2022 from 90% to 83.9%, while in return the contribution of branches increased by 82%, and the contribution of subsidiaries increased by 99%.
The conference call included questions from analysts and investors to Eng. Mohammad Al-Mutairi, the most important of which was a question about the growth rates expected in the coming years for the company’s operational performance in the presence of many existing external factors, to which Al-Mutairi replied by explaining that operating revenues will return to its normal growth rates ranging between 17% to 19%, regardless of the surrounding fluctuations, and indicating that the development of the company’s operations is consistent with the regional expansion strategy Goals_25.
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“Aleid Foods: Company was established in 1994, with a paid-up capital of more than 12 million Kuwaiti dinars. It was listed on the Kuwait Stock Exchange in 2008 under the consumer services sector. Today, it is a leading company in importing, marketing and distributing food products in Kuwait. “Aleid Foods” has diverse operation lines, a group of partner brands, branches, and subsidiaries specialized in food, with a distribution channel network of advanced logistical capabilities, serving more than 1000 commercial customers and massive direct-to-store operations. “Aleid Foods” believes in digitalization, and is keen to adopt the latest digital technologies in the marketing and distribution of food products.
