Agriculture Poultry firm Balady to boost Saudi output by 200m chicks a year By Edmund Bower February 7, 2025, 11:26 AM Reuters/Anwar Mirza Balady said it aims to establish a facility with the capacity to slaughter 500,000 birds a day Balady to invest $300m 600 new broiler coops Rival producer plans IPO Saudi Arabia’s Balady Poultry Company is to invest SAR1.14 billion ($303 million) over five years to expand its business. The plans involve establishing two hatcheries with a combined capacity of 200 million chicks a year. In a statement to the Saudi stock exchange, Balady said it aims to establish a facility with the capacity to process 500,000 birds a day. It also plans to build 600 broiler-chicken coops (chicken that are bred for meat) and the required hatcheries. The company reported a 56 percent increase in net profit in the first three months of 2024 compared with a year earlier, after an increase in the output to 192,000 chickens a day. Balady’s shares, which are listed on the Nomu Parallel Market, have risen 152 percent in the past year. Gulf’s taste for chicken boosts Brazilian exports Saudi poultry producer to list 30% stake on Tadawul PIF subsidiary takes stake in Ukraine poultry producer A rival Saudi poultry producer, Arabian Company for Agricultural & Industrial Investments (Entaj), plans an initial public offering late this month for 30 percent of its shares. The final offer price will be announced after a book-building exercise that ends on February 27. Elsewhere in the industry, the Ash-Sharqiyah Development Company recently announced it had obtained a licence to build a broiler facility producing more than 21 million chicks a year. Its share price jumped 8.2 percent on the news.
