A’Saffa Foods Company announced that it has raised its stake in Osool Poultry Company to 23.46 per cent.
In a press statement, Mohamed Suhail al Shanfari, CEO of A’Saffa Foods, said that this deal is in line with the company’s efforts in investing in different food sectors.
He also said that Osool Poultry is the first integrated project in the sultanate that aims to produce hatching eggs. “This initiative will contribute to enhance the sultanate’s food security and help Oman achieve a higher rate of self-sufficiency in this fundamental field.”
A’Saffa Foods recently reported a consolidated net profit of RO1,641,898 for the first nine months of 2020 compared to RO1,646,622 for the same period of 2019. The company’s total sales for nine months ended September 30, 2020 increased to RO23.68mn against RO23.38mn in the same period of 2019.