Panda Retail Company maintained its growth trajectory, driven by improved CXR store performance and cost optimization. Whereas for Herfy company, the key highlight of the year was the onboarding of a new management team, bringing regional and global Quick Service Restaurant (QSR) industry experience to Herfy. The management team is building capabilities and working to address key challenges for the business for the company.

Panda Retail Company

Driving Innovation. Delivering Growth

Panda Retail sustained its strong momentum in 2024, delivering exceptional profitability and nearly tripling net profit while reinforcing market leadership in an increasingly competitive landscape. Through strategic expansions, digital innovation, customer experience excellence and a strong commitment to sustainability, the company continued to create value and drive growth.

Net Revenue

$ 10.6b

Gross Profit

$ 2.7b

Net Income

$ 154m

209

Panda Stores

Saudi Arabia

203

Panda Stores

Egypt

6

Panda Stores

Herfy Food Services

Established in 1981, Herfy Food Services Company is Saudi Arabia’s leading fast-food chain, operating 382 branches across the Kingdom and extending its footprint internationally with franchises in Kuwait, Bangladesh, and Nigeria.

Net Income (loss)

$ -116.52m

Net Revenue

$ 1.12b

Gross Profit

$ 217m

402

Herfy Stores

Saudi Arabia

382

Herfy Stores

Kuwait

7

Herfy Stores

Nigeria

3

Herfy Stores

Bangladesh

10

Herfy Stores