The Organic Meat Company Limited (PSX: TOMCL) has successfully secured another $4 million contract from First Quality Food Stuff LLC to export frozen boneless beef to the United Arab Emirates (UAE), the company informed the Pakistan Stock Exchange on Thursday.
“We had previously notified the exchange regarding the export contract secured with First Quality Food Stuff LLC of USD 4 million through our notice dated August 31, 2023. we are pleased to inform you of the successful completion of this significant contract,” the stock filing said.
“The Organic Meat Company Limited (TOMCL) is further delighted to announce that we have successfully negotiated and entered into another contract with First Quality Food Stuff LLC for the export of frozen boneless beef to the United Arab Emirates (UAE),” it further stated.
The company said this new contract represents the quality of its meat production for the wider UAE markets and reaffirms its position as a leading meat processor and exporter from Pakistan to the UAE.
“This new contract, valued at US$4 million, underscores TOMCL’s commitment to sustained growth and our ability to capitalize on expanding market opportunities. With this contract, TOMCL anticipates generating above-noted revenues within the next six months,” the filing added.
The management of TOMCL is confident that this continued partnership and expanded sales contract will further enhance our company’s financial performance, contributing positively to our topline and delivering value to our esteemed shareholders, the statement said.
The meat seller first secured a contract to export 1,000 metric tons of frozen boneless beef to the UAE in August 2023. In a stock filing at the time, TOMCL said it expected to generate revenues in excess of US$ 4 million.
