Widam Food Company disclosed the interim financial statement for the nine-month period ending September 30, 2020. According to a statement published on QSE website, the financial statements revealed a net profit of QR63,853,607 (QR63.85m) in comparison to a net profit of QR63,394,601 (QR63.39m) for the same period of the previous year.
The Earnings per Share (EPS) amounted to QR 0.35 as of September 30, 2020, versus Earnings per Share (EPS) of QR0.35 for the same period in 2019. Widam is a shareholding company exclusively handles the government subsidisation of meat to the Qatari market and supports the market by importing other types of meat on non-exclusive basis.
The company seeks to become a profitable distribution company with wholly-owned and franchised butchery stores that will dominate Qatar’s retail meat business.
Widam recently started online trading and home delivery of its products and has been adding more fresh products to its list of items that can be ordered online. During the first quarter of this year, Widam signed a partnership agreement with Baladna, the main producer of fresh milk and other dairy products in Qatar. Under the agreement, Widam supplies the local market with hundreds of tonnes of veal meat for the first time in Qatar.
