TOMCL secures $12m beef supply contract with China

By MG News | Category Equity | September 24, 2024 at 10:33 AM GMT+05:00

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September 24, 2024 (MLN): The Organic Meat Company Limited (PSX: TOMCL) has secured a contract of $12 million for the supply of frozen cooked beef meat to the People's Republic of China (PR China).

This contract 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 company said in a stock filing on Tuesday.

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, it said.

"The company anticipates that the execution of this contract will have a favorable impact on its revenue and profitability for FY25," the notice further reads.

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