Widam Food Company (Q.P.S.C.) disclosed its annual financial statements for the year 2024
Widam Food Company (Q.P.S.C.) disclosed its annual financialstatements for the year 2024, reporting a net loss of QAR 56,204,598compared to a net loss of QAR36,221,079 for the year 2023.
Theloss per share was (0.31)for 2024 compared to a loss per share of (0.20)for the same period the previous year.
Netlosses of QR 56,204,598 consists of expected credit losses provision amountingto QR 33,292,437, of which material amount relates to business activities thathave occurred in prior years.
Thecompany witnessed a growth in revenue by 3% YoY, Resulting in a gross profitamounting to QAR 9,341,077 compared to gross loss of QAR (24,438,018) in2023.
Thecompany also announced receiving a letter from the relevant governmentauthorities regarding the continuation of compensation amounting to QAR 38.4 million(thirty-eight million and four hundred thousand Qatari Riyals) for the costsincurred in providing services to the state for the year 2025.
Additionally,the company announced winning a tender to support red meat for the Holy Monthof Ramadan and Eid al-Adha for three years, which includes the nationalinitiative (Mubadara) to encourage local production.
WidamFood Company is the leading supplier of meat and livestock in the country,streamlining commercial operations, managing both automated and traditionalslaughterhouses, and employing the latest technologies in line with globalstandards and specifications. The company prides itself on providing localmarkets with fresh products renowned for their high quality. To ensure aseamless experience for its customers, Widam offers electronic payment systemsthrough its application, facilitating smooth and efficient home deliveryservices.
