The Organic Meat Company Limited (PSX: TOMCL) has successfully secured a big contract for the supply of frozen cooked beef meat to the People’s Republic of China (PR China), the company informed the main bourse on Tuesday.
This contract, valued at $12 million, is expected to be a major milestone in the Company’s business operations, expanding its international footprint in the growing Chinese market for frozen cooked beef meat products, the stock filing stated.
The contract involves the supply of high-quality frozen cooked beef meat over the agreed period, with shipments scheduled to commence momentarily. This partnership aligns with the Company’s strategy of enhancing export operations and entering new markets, particularly in Asia.
TOMCL anticipates that the execution of this contract will have a favorable impact on its revenue and profitability for FY25.
The company’s principal activities are processing and sale of halal meat and allied products.
At the time of filing, TOMCL’s scrip at the bourse was Rs. 42.6, up 3.47 percent or Rs. 1.43 with over 5.7 million shares on Tuesday.