CEO’s Message

By the grace of Allah, Al Shaheer Corporation has completed its first year as a publicly listed entity. The start of the year saw an overwhelming response to its IPO, which fuelled strong growth in all SBUs of the company despite negative trends in both the domestic and international meat markets.

During this period, the management and the Board of Directors of the company, to counter any short term pressures on our margins, has put considerable effort into carving out sustainable growth models aimed at bringing about long term value for our shareholders. To this end, we have made significant progress in three key areas:

Talent Development: We have fortified human resources at all levels by hiring the top talent from diversified professional backgrounds and experiences, and invested 4,112 man hours of training across the organization. Employer branding, talent attraction, retention and development will remain a priority in the coming years as well.

Capability Enhancement: We increased production and storage capacity at our Karachi plant and have achieved peak production levels of 90 tons per day versus 60 tons a year ago. This makes us capable of adequately meeting the growing demand in our local retail, institutional and export channels.
In our upcoming poultry plant in Lahore we will have one of the largest cold storage and processed meat production capacities in the country. Our retail expansion opportunities have been significantly augmented by MoUs signed with Shell Pakistan Limited to host Meat One shops and Meat One product dispensers at suitable fuel retail sites. This association of Meat One with one of the world’s most iconic brands is expected to add tremendous value to Meat One brand. We have also obtained approval from the UAE government to export frozen & vacuum packed meat, in addition to our existing chilled and fresh meat

Long-term Profitable Growth: We have identified additional value drivers in the foods segment in both domestic and international markets. The unprofitable Khaas Meat sites were closed down during the year without loss of volume growth, while our presence has increased in Sindh and Punjab through shop-in-shop partnerships with leading grocery stores in Karachi, Lahore & Islamabad. A flagship store has also been opened in Hyderabad for Meat One.

Going forward the scope of business is being expanded into higher margin products, i.e. poultry, as well as fruits and vegetables business through IQF technology.

I am confident that INSHALLAH these efforts will carve out a strong future for Al Shaheer Corporation. I would like to thank our customers, suppliers, employees, agencies, bankers and most importantly our shareholders for their tremendous support.