Riyadh – Mubasher: Almarai Co’s board of directors has announced overviewing the company’s upcoming five-year scheme, which is part of Almarai Co’s vision 2025.

The plan, which will cover the period from 2019 until 2023, will focus on enabling the company to confront future challenges and achieve its long-term goals and ambitions, by transforming its operational model through various upgrades.

As part of the five-year plan, the Saudi food and beverage products firm will invest up to SAR 10.6 billion ($2.83 billion) in capital investments, which include replacing some current assets, enhancing production capabilities as well as capabilities in farms and plants, distribution and transportation, Almarai highlighted in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

This long-term investment cycle will also include expanding the company’s geographical footprint and supporting innovation and product development, the food company noted, adding that it will also focus on raising efficiency and sustainability.

Efficiency and cost improvement to ensure continued competitiveness and high quality products will also be among Almarai’s main points to focus on in its upcoming five-year scheme.

Almarai last reported a 4.88% year-on-year rise in profits to SAR 344 million ($91.73 million) in the period between January and March, up from SAR 328 million ($87.47 million). Its profit increase was achieved despite a 4.5% year-on-year decline in revenues to SAR 3.232 billion in Q1-18 from SAR 3.384 billion on the back of lower exports.