Jordan-based Siniora Food Industries, a pioneer in the manufacturing of cold cuts, frozen meat and luncheon, has reported a net profit of JD1.926 million ($2.7 million) for the first half of 2017, a growth of 36 per cent compared with the same period of 2016.

While total revenues grew by 16 per cent over the same period of 2016, and amounted to JD27.5 million ($38.8 million) in the first half of 2017, said a statement from the company.

Chairman of Siniora Tarek Omar Aggad announced that the company’s positive results confirm the success of the expansion and development strategy put in place, especially in the Gulf and several Arab countries, which led the company’s growth and that have boosted its position and strength and enhanced its financial position, as well as increased its market share locally and regionally.

Aggad added that the Siniora’s regional sales grew by 26 per cent in the first half of 2017, compared to the same period of 2016, predominantly after its acquisition of the Diamond Meat Processing Company in Dubai in 2016, which has recently been accredited by the Saudi Food and Drug Authority to export its meat products to Saudi Arabia.

Aggad: expansion has boosted our market share

Moreover, the company’s sales increased across all the Gulf markets, with a sharp increase in the sales of the frozen meat products in the Jordanian market. Aggad confirmed that Siniora has continued to maintain its leading position both in the Palestinian and Jordanian markets.

Siniora Food Industries, a subsidiary of Arab Palestinian Investment Company (APIC), is a market leader in the manufacture and sale of branded Siniora Al-Quds and Unium processed meat.

It was founded in Jerusalem, Palestine, in 1920, and established its factory in Jordan in 1992. Siniora’s acquired Diamond Meat Processing Company produces cold cuts and canned luncheon meat from three processing plants in Palestine, Jordan and the UAE. In 2015, Siniora Jordan established a factory for its new line of frozen meats.

Siniora has been awarded the Food Safety System certificate and ISO 9001 certification for quality and food control safety, in addition to the Palestinian Standard certificate and Halal certificate issued by Jordanian Standards.

Siniora factories in Jordan and Palestine have been maintaining the international certifications for Occupational Health and Safety Management Systems OHSAS 18001:2007 and Environmental Management Systems ISO14001:2004 since 2014.

The company markets its products through mass merchandisers, grocery stores and department stores in Jordan, Palestine, Saudi Arabia and the UAE as well as in 10 other countries in the Middle East. Siniora also has distribution centres in Saudi Arabia, the UAE and a dedicated export department covering the Gulf and the Levant, it stated.