FrieslandCampina Engro announces financial results for FY2022

Karachi: Friesland Campina Engro Pakistan Limited (FCEPL) announced its financial results for the year ended December 31, 2022. Building upon the growth trajectory, FCEPL delivered another record year with highest ever topline and operating profit of PKR 73.5 Billion and PKR 5.3 Billion respectively. The topline grew by 41% over last year driven by volume growth, mix improvement and expansion of the retail footprint despite aggressive competition and distribution challenges.

US Agri Trade Delegation Visits Naheed Supermarket

The Company witnessed gross profit growth of 37% while the gross margin declined by 50bps due to higher commodity prices, global geo-political environment, foreign exchange constraints, Rupee devaluation and floods. While the gross margin has declined, the operating margin improved by 60bps over last year due to initiatives such as cost rationalization and driving efficiencies across the value chain.
Profit After Tax grew by 37% despite higher interest rates and imposition of super tax.

School Milk Program

Keeping in view the Company’s purpose of nourishing Pakistan, the Company collaborated with University of Education and University of Veterinary & Animal Sciences to gauge the health benefits of daily milk consumption on children. For this purpose, School Milk Program (SMP) was conducted by providing milk to 8000+ children in 89 primary schools in Attock and Sheikhupura. The program generated encouraging research-based evidence that highlights the need to develop a policy for providing milk in schools at a national level to improve the status of nutrition in Pakistan.

Dairy and Beverages Segment

The segment reported a revenue of PKR 66.3 billion, reflecting a growth of 41% versus last year. Olper’s led the growth in the segment by strengthening its market leadership position through brand and trade investments. Olper’s UHT Milk, Olpers Cream, Dobala, Flavoured Milk and Tarang all posted a double¬ digit growth

The segment deployed various physical availability initiatives along with capitalizing on category captaincy in the Modern Trade channel. Through targeted consumer promotions, investment in trade activations and consumer engagement, FCEPL’s retail footprint expanded by 4500+ outlets. The Company accelerated its profitable growth by driving its Value-Added Brands in the market.

Ice cream and Frozen Desserts Segment

The segment reported a revenue of Rs. 7.18 billion, reflecting a growth of 37% versus last year. The business invested in season ¬opening activities and capitalized on all festivities through best-¬in-¬class service and expansion of the trade universe by inducting more assets in the market.

Chinese ecommerce giant Alibaba-backed Daraz cuts workforce by 11%

Future Outlook

The business environment remains challenging amongst rising inflation, foreign exchange constraints, currency devaluation, higher finance cost and imposition of Super Tax. Moreover, rising natural disasters due to climate change and dynamic consumer needs may affect business’s ability to serve the consumers effectively. However, the Company will continue to remain agile and drive efficiencies across the value chain to deliver growth. The business will continue to invest in brand equity and expand its profit accretive portfolio to leverage margins.

Committed to Nourishing Pakistan, the Company will expand upon its partnership with the Pakistan Dairy Association (PDA) and the Government to educate the consumers on the potentially hazardous effects of loose milk, and positive features of safe, packaged milk. The Company will continue to scale up its industry-leading Dairy Development Program, which is designed to ensure inclusive growth and increased profitability for the dairy farmers, including women farmers and milk collection agents.

Bykea App Now Offering Telenor Balance Using Top-Up to Drivers

Leveraging its global expertise and 150 years heritage, FrieslandCampina Pakistan remains committed to the highest standards of hygiene, food safety and sustainability, and will continue to provide safe, affordable, and nourishing dairy products to millions of Pakistanis, every day.

• Tianjin Port becomes model for future port solutions in China, worldwide
  – Advertisement — Advertisement -Beijiang: Tianjin Port, a world-leading smart port powered by Huawei’s technology, has become a model for future port solutions in China and around the world. With the introduction of technologies like 5G and AI at Section C smart container terminal at Tianjin Port’s Beijiang Port Area in October 2021, the port […]
• Carrefour and Alkhidmat Foundation partner to lend a helping hand to those in need
  – Advertisement — Advertisement — Advertisement – Carrefour and Alkhidmat Foundation have partnered to support the less privileged in Pakistan during Ramadan The collaboration will provide humanitarian aid to communities in Türkiye and Syria affected by the recent earthquakes Customers can find pre-packed boxes filled with essential items at all Carrefour stores to donate Lahore: […]
• Lucky Cement Limited received NFEH’s 15th CSR Awards 2023 for “Green Energy Initiatives” category
  – Advertisement — Advertisement — Advertisement — Advertisement -Karachi: Lucky Cement Limited, Pakistan’s leading cement manufacturer, is delighted to announce that it has won the NFEH’s 15th Corporate Social Responsibilities Awards 2023 in the “Green Energy Initiatives” category. This award recognizes the company’s unwavering commitment to sustainable development and reducing its carbon footprint through the […]
• Arçelik establishes a global Research and Development Center at NUST
  – Advertisement — Advertisement — Advertisement — Advertisement — Advertisement -Islamabad: The parent company of Dawlance, Arçelik has established its second R&D center in Pakistan at the National University of Science and Technology (NUST). Arçelik is the 2nd largest manufacturer in Europe, operates in 53 countries with 83 subsidiaries has 30 R&D centers around the […]
• Lucky Cement Continues Its Commitment to Education by Building a New Primary and Secondary School in District Lakki Marwat
  – Advertisement — Advertisement — Advertisement — Advertisement — Advertisement — Advertisement -Lucky Cement Limited, in collaboration with The Citizen Foundation, has successfully completed the state-of-the-art school in the vicinity of our Pezu plant premises. The “Abdul Razzak Tabba Block Lucky Cement Limited Pezu Campus-I” for primary classes, while the “Muhammad Yunus Tabba Block Pezu […]