Riyadh – Mubasher: First Milling Company (First Mills) has established a new limited liability company to support its future business expansion and fulfil strategic objectives with a capital of SAR 100,000.
The new firm will be named First Food Supplies Company and will be headquartered in Jeddah, according to a bourse filing.
The company will operate in a range of activities, including the manufacturing of bakery products, grain mill products, starches, pasta, couscous, and similar starch products.
Additionally, the new company will engage in storage, road freight and transport, wholesale of agricultural raw materials, live animals, food, and beverages, as well as retail sale of food.
The financial impact of the new company is anticipated to be positive and evident in 2025, following the commencement of its commercial operations.
It is worth noting that First Mills’ net profit of rose 1.24% year-on-year (YoY) to SAR 220.20 million in 2023 from SAR 217.50 million.
