(MENAFN- Gulf Times) Qatari dairy and juice maker Baladna will target revenue growth of 15%-20% each year over the next five years and expects to increase domestic market share as well as to grow internationally.
The company is increasing its product lines to add items with long shelf lives, such as milk and cream.
"We continue to develop the business where we would expect strong double-digit growth," chief executive Malcolm Jordan told Reuters. "We would want to be twice the size we are today within the next five years."
The company saw profit soar 152% to QR152mn ($41.75mn) in 2020, while revenue jumped 68% to QR815mn.
Jordan said there was potential for significant market share gains in Qatar and the company was exploring new export opportunities, including for cheese, in Africa and South East Asia.
Baladna, with a market capitalisation of some $850mn, says it already exports to Gabon, Iraq, Libya, Mauritania, Oman and Somalia.
It is working with companies in Malaysia to manufacture fresh products locally, a model which Jordan said could potentially be replicated in some African markets.
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