A conglomerate owned by the Saudi-Ethiopian Tycoon Mohammed Hussein Ali Al-Amoudi, MIDROC Investment Group has reported total sales of 65.99 billion birr in the first half of the 2025/26 fiscal year.

The performance, MIDROC said in a statement, surpassed its target, marking a 71% increase compared to the same period last year.

The report unveiled during a performance review held at the Sheraton Addis Luxury Collection Hotel, indicated a 95% year-on-year profit surge.

MIDROC spent more than 18.4 billion birr on agriculture and other government obligations during the period, a 166% increase over the same period last year.

The group earned over $155 million in foreign exchanges from products and services supplied to international markets in the first half of the year, a 53% increase compared to the same period last fiscal year.

CEO Jemal Ahmed described the performance as encouraging, while emphasizing the need to focus on marketing, production and cost reduction.

During the past six months, two flagship projects Denby Eco Lodge and the Arjo Coal Production Factory were inaugurated by Prime Minister Abiy Ahmed.

MIDROC Investment Group is a conglomerate of more than 45 organizations across six sectors. MIDROC’s employment portfolio exceeds 80,000.