Despite steep increases in commodity costs due to soaring inflation, and the rapid, unprecedented devaluation of the Pakistani Rupee, FrieslandCampina Engro Pakistan Limited (FCEPL) registered a Profit After Tax (PAT) of Rs. 938 million in the first half of 2022 against Rs. 1,414 million for the same period last year.
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. The segment recorded growth of 23.4% versus last year with a revenue of Rs. 26.4 billion.
The significant expansion was witnessed in the retail footprint and E-Commerce channels during the period. The segment will continue to explore new channels and routes to market to serve its customers effectively and efficiently.
In Q1 2022, Olper’s UHT new campaign expanding on the theme of “Happy Mornings” was launched, which is already resulting in strengthening the brand’s equity and accelerating conversion from loose milk.
Olper’s Cream also launched a new copy refreshing its association with the morning occasion. The campaign not only focuses on Olper’s cream’s nutritional credentials as a morning spread but also highlights its versatility for other key occasions.
The company continues to leverage FrieslandCampina’s global expertise to introduce new products and innovations as a key driver of future business growth. The Company is focusing its attention on exploring new opportunities to offer breakthrough products that fulfill its consumer needs particularly around the morning occasion.
The company’s other products like Olper’s Flavored Milk, Olper’s full cream milk powder (FCMP), Olper’s Pro-Cal and Olper’s Cream have also gained a healthy market share in a short span of time despite strong competition from established players.
The segment of Ice Cream and Frozen Desserts recorded a growth of 39% versus last year with a revenue of Rs. 4.4 billion. This growth has been enabled by the segment’s investment behind season opening activities and expansion of the trade universe by inducting more assets in the market.
FCEPL was recognised internationally for its sustainability initiatives when it won the Gold Standard Award 2022 for Corporate Citizenship (CSR and Sustainability) by the Public Relations & Communications Association Asia Pacific (PRCA APAC) at a ceremony in Singapore.
The business environment remains challenging due to rising inflation and currency devaluation. However, with an agile business model in place, the company will continue to drive efficiencies across the value chain and deliver growth.