SADAFCO is one of UIC’s core portfolio companies with a paid-up capital of KD 23.7 million (SR 325 million). The company was established 32 years ago and listed on Saudi stock exchange in 2005. Its product range includes dairy products and by-products, tomato paste, juices and ice cream. SADAFCO’s activities were expanded to include other products, such as cheese, cream and tomato ketchup. These products enjoy high demand in the Saudi market and across the GCC.
SADAFCO regularly adapts its manufacturing strategy to meet changes and developments in its local and regional markets and refines its manufacturing processes to increase production and reduce costs. In 2008, the Company overcame the challenge of a rise in the price of raw materials and continued operations without disruption while maintaining competitive prices. The company also invested in a new transport fleet as part of its plans to modernize product distribution throughout the region.
SADAFCO owns a number of distinctive and prestigious trade marks which support the company’s marketing efforts and sales growth. In particular its “SAUDIA” trade mark is a highly recognized and trusted consumer brand in Saudi Arabia and other Arab countries.
On January 1, 2008, SADAFCO’s Board of Directors appointed Mr. Waltros Mathews as Chief Executive Officer. Mr. Mathews brings a strong track record of success and expertise in a 25 year career with leading international and Gulf consumer goods manufacturing companies.
SADAFCO continued its comprehensive restructuring process in 2008 while maintaining a sound track record in operating results. The first phase of the restructuring plan - scaling down and consolidation - is now complete; the execution of the second phase - modernization, expansion, acquisition and assets growth - will begin in 2009.
SADAFCO’s net profit for the nine months ending 31 December, 2008 decreased by 17.5%, to a total of KD 1.9 million (SR 25.4 million) compared to KD 2.2 million (SR 30.8 million) for the same period in 2007 To date, SADAFCO’s restructuring has been reflected in impressive operating results. Net sales for nine months ending 31 December 2008 increased by 6.9% over previous fiscal year, totalling KD 50.7 million (SR 693.9 million) compared to KD 47.4 million (SR 648.9 million) in 2007 This growth in sales is due to price increases implemented in January 2008 and the launch of new products early in the year.
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