Alamar Foods Co.’s CEO Filippo Sgattoni
Alamar Foods Co.’s CEO Filippo Sgattoni said the rising cost of vital commodities remains a major challenge, although market trends began to return to normal and even reversed in some cases.
In a statement picked up by Argaam, Sgattoni pointed out that the fast-food chain operator will continue to work with suppliers and benefit from inventory to enhance operational efficiency, remaining optimistic about achieving goals related to revenue and net profit growth.
Alamar, according to the CEO, achieved a strong performance through H1 2022. Driven by a well-crafted capital management strategy and effective cost reduction, increased fixed stores and geographical expansion played a key role in reaching such targets.
In H2 2022, Alamar will continue to focus on enhancing operational efficiency and providing multi-channel selling platforms to attain further growth, Sgattoni added.
Alamar reported a 10% rise in net profit after Zakat and tax to SAR 66.8 million in H1 2022, compared to SAR 60.9 million in the prior-year period. Q2 2022 net profit amounted to SAR 23.6 million.