The Organic Meat Company Limited (PSX: TOMCL) has successfully secured a contract from First Quality Food Stuff LLC to export 1,000 metric tons of frozen boneless beef to the United Arab Emirates (UAE), the company informed the Pakistan Stock Exchange on Thursday.
“The Company is pleased to inform the TRE Certificate holders that this contract is the first of its kind for any meat processor and export house from Pakistan to the UAE. Through this contract, TOMCL will be able to generate revenues in excess of US$ 4 Million within the next six months,” the filing added.
It further said, “The management of TOMCL is confident that this sales contract shall have a positive impact on our Company’s topline as well as generate favorable value to the Company’s shareholders”.
TOMCL was incorporated on July 14, 2010, as a private limited company under the repealed Companies Ordinance, 1984 (now Companies Act, 2017). The company’s principal activities are the processing and sale of halal meat and allied products.
At the time of filing, the company’s scrip at the bourse was Rs. 21.89, up 2.92 percent or Rs. 0.62 with a turnover of 1,820,000 shares on Thursday.
Source: Pro Pakistani