Riyadh – Mubasher: Almunajem Foods Company’s board of directors has approved launching a new company in Saudi Arabia’s capital of Riyadh with a share capital of SAR 1 million.

The new company will operate integrated logistics services, according to a bourse filing.

In the first quarter (Q1) of 2024, Almunajem Foods’ net profits surged to SAR 114 million from SAR 81.90 million in Q1-23.