Monday November 29, 2021

FrieslandCampina revenue rises

October 21, 2021

KARACHI: FrieslandCampina Engro Pakistan Limited reported net revenue of Rs38.7 billion in the first nine months, representing 19 percent growth versus last year, a statement said.

This milestone was attained by developing new channels, increasing market penetration, improving route to market, and enhancing investment across brands. These initiatives reflect Friesland Campina Engro Pakistan Limited’s unwavering commitment to provide all-purpose nutrition across Pakistan.

The business environment faced unprecedented economic challenges due to currency devaluation and all-time high commodity prices.

The company has ... improve(d) Gross Margin by 403bps versus last year through continued focus on mix management and saving initiatives throughout the value chain,' the statement said. "Furthermore, effective controlling of other costs, reduced rate of borrowing and effective working capital management has led to an improvement in profit after tax by 407bps versus last year."

The company's dairy and beverages segment reported net revenue of Rs33.8 billion, registering 16.8 percent growth compared to the same period last year. The improvement was achieved by adding 6,000 stores to the retail network during the year, coupled with 14X growth in e-commerce volumes. Similarly the ice cream and frozen desserts segment reported growth of 41.7 percent and revenue of Rs4.9 billion.