Friesland Campina Engro Pakistan Limited (FCEPL) announced its financial results for the year ended December 31, 2022. Building upon the growth trajectory, FCEPL delivered another record year with the highest ever topline and operating profit of PKR 73.5 Billion and PKR 5.3 Billion respectively. The topline grew by 41% over last year driven by volume growth, mix improvement and expansion of the retail footprint despite aggressive competition and distribution challenges.
The Company witnessed gross profit growth of 37% while the gross margin declined by 50bps due to higher commodity prices, global geo-political environment, foreign exchange constraints, Rupee devaluation and floods. While the gross margin has declined, the operating margin improved by 60bps over last year due to initiatives such as cost rationalization and driving efficiencies across the value chain.
