Nofoth Food Products Company
9556.SR
Saudi Exchange9.79
SAR
-0.06
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Nofoth Food Products Company
9556.SR
(Saudi Exchange)
Recent
price
9.79
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Nofoth Food Products Company is a Saudi Arabia-based food manufacturing and retail company specializing in bakery products, pies, and oriental sweets. The company produces a range of branded products including maamoul under the Mamola brand, sweets with creamy fillings under the Qashtia brand, stuffing, kibbeh, and musakhan products under the Anaba brand, fried and baked dates under the Golden Balah brand, and pies and stuffings under the Pinkish Bite brand. It also manufactures biscuits, folk and oriental sweets, sugary sweets including candied, caramel, toffee, and nougat. Beyond manufacturing, Nofoth operates retail outlets for bakery products, sugary sweets, nuts, coffee, spices, dry food stores, restaurants, and catering services. The company supports its operations with automated bakeries and maintains a widespread retail network with 28 branches across Saudi Arabia. Founded in 2015, Nofoth is headquartered in Riyadh and is publicly listed on the Saudi Stock Exchange since January 2023. In recent developments, Nofoth Food Products Company has expanded its footprint beyond Saudi Arabia by establishing a branch in the United Arab Emirates as part of its strategic plan to strengthen its brand presence in the GCC market. The company completed the acquisition of the trademark and assets of "Maqsoud Restaurants" in Riyadh for 3.7 million SAR, integrating this into its growing portfolio to diversify its offerings and expand foodservice operations. Additionally, Nofoth purchased a mixed-use commercial and residential land in Riyadh's Hittin district, signaling further operational expansion. The company has also increased its capital through bonus shares issuance and has moved from the Parallel Market to the Main Market on the Saudi Stock Exchange to support its growth ambitions. These changes align with Nofoth’s strategy to broaden its market reach, diversify revenue streams, and increase branch network both domestically and across the GCC region. Nofoth operates primarily within the consumer staples sector, targeting retail customers through multiple food categories and food service segments in Saudi Arabia and the wider Gulf region. Key subsidiaries and brand holdings include Maqsood Restaurants and multiple proprietary food brands under its bakery and sweets categories. The company is governed by a board of directors with recent appointments to strengthen oversight and compliance, supporting its ongoing expansion plan. This comprehensive mix of manufacturing, retail, food service, and strategic acquisitions positions Nofoth Food Products Company as an integral player in the Saudi and GCC food sector, with continuous innovation and expansion shaping its business model and growth trajectory.