The newly listed Baladna, the holding company of Baladna Food Industries, has reported net profit of QR39.7mn in the first three months of this year.

The (weighted average) earnings-per-share stood at QR0.063 for the period ended March 31, 2020.

Based on this net profit and accumulated profits, the board has passed a resolution to distribute interim dividends of QR40mn, equivalent to QR0.021 per share.

With a herd size of 21,000 cows, the company’s revenue more than doubled year-on-year growth of 147%, due to its continuous expansion and growth in portfolio, which reached 191 products across different categories, namely fresh dairy, long-life dairy and creams, cheese, and juices.

"The company’s commitment to innovation and product portfolio expansion showcases its ability to maintain its leadership position in the dairy and beverage sectors, and to continue being a main contributor to Qatar’s National Food Security Programme," its spokesman said.

The company has "successfully and positively" dealt with the sudden onset of the Covid-19 pandemic, by taking strict preventive measures to protect its employees, customers and consumers.

The measures come as part of strategy to ensure availability of safety stocks, continuity of production, availability of resource availability and food supplies, and strengthening capabilities in different channels.