FCEPL announces a turnover of 52.8 billion rupees in nine months – Business & Finance

KARACHI: FrieslandCampina Engro Pakistan Limited (FCEPL) has announced its financial results for the third quarter of 2022. The company reported revenue of Rs 52.8 billion for the nine months, posting a 37% increase from the same period last year, driven by volume growth, improved mix and expanded distribution.

However, the business saw a drop in profit after tax of Rs 194 million from last year to Rs 1.765 billion in nine months of this year, from Rs 1.959 billion in the same period of the previous financial year. due to higher financial costs due to increased interest rates and higher taxation due to the imposition of a super tax.

With a growth of 36.4% compared to last year, the dairy products and beverages segment recorded a turnover of Rs 46.1 billion. Olper’s led the segment’s growth while strengthening its market leadership position through consistent brand development and commercial activities.

Ice cream and frozen desserts showed a growth of 38% compared to last year and brought in a turnover of 6.8 billion rupees. This growth was made possible by the segment’s investment in season-opening activities and the expansion of the retail universe by introducing more assets to the market.

According to the company’s financial performance for the quarter ended September 30, 2022, the company’s net sales increased by 37% to 52.827 billion rupees from 38.671 billion rupees. The company’s operating profit increased by 15% to reach 3.874 billion rupees at the end of September 2022. Earnings per share stood at 2.3 rupees.

In light of the recent floods in Pakistan, FCEPL has undertaken relief efforts to support those affected in Sindh and Balochistan with free food, shelter and animal treatment camps.

To regenerate the environment, FCEPL has partnered with the World Wide Fund for Nature (WWF-Pakistan) on a tree planting initiative to increase local resilience to climate change and increase tree cover.

Copyright Business Recorder, 2022

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