Karachi: FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for Q1, 2023. The Company reported a revenue of PKR 22,651 million in the first quarter, showcasing 62% topline growth versus last year, driven by mix improvement, widening our distribution footprint, and volume growth in both, the Dairy-Based Products and the Frozen Desserts segments.

Despite inflation and rupee devaluation, the Company improved its gross margin and operating margin by 70 bps and 30 bps respectively, by driving cost efficiencies across the value chain. However, the Profit After Tax (Rs 990 million vs Rs 664 million same period last year), as a percentage of sales, declined by 40 bps due to increase in finance cost and taxation.

Dairy-Based Products Segment With a growth of 66% versus Q1 2022, the segment reported a revenue of Rs. 21.2 billion. The flagship brand, Olper’s, led the growth in the segment along with strengthening its market leadership position through consistent brand building and trade activities. In line with FrieslandCampina’s global purpose of nourishing by nature, FCEPL partnered with Engro Eximp FZE to expand its global footprint and enter new markets. The agreement will increase Pakistan’s dairy exports, bringing in much needed foreign exchange to the country while enriching farmers’ livelihoods.

Published in The Daily National Courier, April, 19 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.