KARACHI: The FrieslandCampina Engro Pakistan Limited (FCEPL) has announced its financial results for Q3, 2022. The company reported revenue of Rs 52.8 billion for the nine months, showcasing 37 percent increase versus same period last year, led by volume growth, mix improvement and distribution expansion.
However, the business witnessed decline in profit after tax of Rs 194 million vs last year to Rs 1.765 billion in nine months of this year compared to Rs 1.959 billion in same period of last fiscal year on the back of higher finance cost due to increase in interest rates and higher taxation due to imposition of super tax.
With a growth of 36.4 percent versus last year, the dairy and beverages segment reported a revenue of Rs 46.1 billion. Olper’s led the growth in the segment along with strengthening its market leadership position through consistent brand building and trade activities.
Ice Cream and frozen desserts posted a growth of 38 percent versus last year and reported a revenue of Rs 6.8 billion. This growth was enabled by segment’s investment behind season opening activities and expansion of the trade universe by inducting more assets in the market.
As per, financial performance of the company for the quarter ended September 30, 2022, the company’s net sales rose by 37 percent to Rs 52.827 billion compared to Rs 38.671 billion. Operating profit of the company increased by 15 percent to Rs 3.874 billion end of September 2022. Earnings per share stood at Rs 2.3.
In light of the recent floods in Pakistan, FCEPL undertook flood relief efforts to support the affectees in Sindh and Balochistan with food, shelter and free animal treatment camps.
To regenerate the environment, FCEPL partnered with the World Wide Fund for Nature (WWF-Pakistan) on a tree plantation initiative to increase local resilience to climate change and increase tree cover.
Copyright Business Recorder, 2022
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