Dutch Lady milk reports 12.6 per cent rise in Q2 net profit to RM24.3 million
SINAR DAILY REPORTERS24 Aug 2023 09:18pm
DLMI Managing Director Ramjeet Kaur Virik says the company will continue to ensure a wide range of affordable products by means of strategic pricing
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Operating profit excluding accelerated depreciation and one-offs stood at RM37.7 million compared to RM32.9 million from a year ago, an increase of 17.1 per cent.
The increase is due to the company’s cost optimisation initiatives and revenue growth management measures to stem inflationary headwinds, and buffering against the USD exchange rates.
The accelerated depreciation of existing assets in the Petaling Jaya factory is also consistent with the earlier announcement pertaining to investment in the new manufacturing plant in Bandar Enstek.
DLMI Managing Director Ramjeet Kaur Virik said the company will continue to ensure a wide range of affordable products by means of strategic pricing.
She said DLMI will remain steadfast in its purpose of "Nourishing Our Nation" and continue to drive its position as market leader by continuing to operate in a volatile market due to global uncertainties and challenges and potential regulatory changes.
DLMI, a market leader since 1963 has demonstrated commitment to the country by investing RM540 million in the new world-class manufacturing plant under construction in Bandar Enstek.
The future-ready manufacturing plant will be fully operational within next year.
“We will stay focused on our mission and at the same time, maintain healthy gross margins to enable DLMI to continue investing in our assets; our brands and people," said Ramjeet in a statement.
She added this will drive long-term engagement to make the company an employer of choice as well as increase milk penetration.
The company in the coming decades will continue to support and partner the government’s health agenda in battling non-communicable diseases such as stunting and obesity in children.
DLMI also remains committed in supporting the government to achieve a 100% self-sufficiency level in local fresh milk production by upskilling
local dairy farmers to increase the quality and volume of milk.
