Q1, 2024 results: FrieslandCampina Engro delivers strong topline growth of 21pc

KARACHI: FrieslandCampina Engro Pakistan Limited (FCEPL) announced its financial results for the first quarter of 2024, delivering a strong topline growth of 21 percent (Rs 27.5 billion compared to Rs 22.7 billion in the same period last year) despite the challenging operating environment and economic slowdown. This increase was fuelled by volume growth and relevant consumer offerings.

The Company witnessed a gross profit growth of 1.0 percent, while gross margin declined by 320 bps due to currency devaluation and inflationary pressure on commodities and energy prices.

Profit after tax (as a percentage of sales) declined by 200 bps over LY (Rs 0.67 billion versus Rs 0.99 billion in the same period last year) due to an increase in interest rates.

Copyright Business Recorder, 2024