Feed mill to produce 422,000 tonnes annually.
The company attributed the improved performance to its strategy of expanding higher-value product offerings, increasing operational efficiency, and strengthening its feed segment, which has become a key driver of growth.
The company reported a 33% year-on-year increase in net profit to SAR 84.89 million (US$22.6M), up from SAR 63.94 million in the same period last year.
The accolade highlights the company’s efforts to create an inspiring and motivating workplace that supports employee development and drives operational excellence across its milling and food ingredient operations.
The deal raises SALIC’s ownership in Olam Agri to 80.01% and moves the business closer to full acquisition within three years.