Pakistan's largest listed meat exporter books 74% profit fall as Gulf shipping disruption bites

Pakistan's largest listed meat exporter reported a 74% fall in annual net profit, with press reports on the filing pointing to Gulf shipping disruption and heavy reliance on the UAE market, a reminder that route risk now shows up in exporters' margins and not only in freight quotations.

The Organic Meat Company Limited (PSX: TOMCL), a Karachi-based exporter of beef, mutton and camel meat that ships to more than 16 countries including the UAE and Saudi Arabia, filed results for the year ended 30 June 2026 on 5 October. Consolidated net sales fell 12% to PKR 12.38 billion from PKR 14.01 billion, gross profit dropped 24% to PKR 1.09 billion, operating profit fell 62% to PKR 248.91 million and net profit came in at PKR 112.35 million against PKR 429.79 million a year earlier, a decline of 74%. Earnings per share fell to PKR 0.57 from PKR 2.50.

Two lines in the accounts are worth reading alongside the headline. The allowance for expected credit losses rose 34% to PKR 211.87 million, and finance costs fell 54% to PKR 64.15 million: the company carried a lighter debt-service burden but provisioned more against receivables. Press reports on the filing say the company attributed part of the decline to shipping disruption caused by the US-Iran conflict, which lengthened transit and made delivery commitments on Gulf routes harder to meet.

• Revenue: PKR 12.38 billion, -12% year on year (FY25: PKR 14.01 billion).
• Profit: net profit PKR 112.35 million, -74%; earnings per share PKR 0.57 versus PKR 2.50.
• Margins: gross profit -24% to PKR 1.09 billion; operating profit -62% to PKR 248.91 million.
• Credit risk: allowance for expected credit losses +34% to PKR 211.87 million.
• Market mix: the UAE and Saudi Arabia remain key destinations among more than 16 export markets.

For importers the practical point is scheduling and payment terms rather than any single company. When transit times are unreliable, exporters absorb demurrage, re-book space and hold stock longer; smaller suppliers then tighten terms or ask for deposits, and receivables risk rises along the chain. Buyers who fix volumes early, confirm the full certificate set before loading and keep a second approved origin tend to be the ones who keep shelves full when a route closes.

Nau International Food Group supplies halal frozen poultry and frozen meat from HACCP-certified, GACC-registered plants, with halal certificates, veterinary health certificates and certificates of origin issued for each shipment. We arrange customs clearance and delivery into Dubai and onward distribution across the Gulf, Africa and Central Asia. For specifications, packing data and current offers, write to info@naufoodgroup.com.

Source: The Organic Meat Company Limited (PSX: TOMCL) FY2026 results filed 5 October 2026; Mettis Global, 5 October 2026; Asian Agribiz and Profit (Pakistan Today), October 2026.