Britannia approves 1:2 share split to enhance stock affordability and liquidity

ASIA - Britannia Industries’ board has approved share split in the ratio 1:2 to make stock more affordable for the small retail investors and increase liquidity. According to ET Retail, the division which awaits approval of the members and authorities will see authorization of 250m shares worth US$7.14mn in share capital besides 120.1m equity shares…

Britannia to invest US$58.2m by next year for capacity and product development

INDIA - Britannia Industries, India’s second-largest listed packaged food company plans to invest between US$58mn to US$72.81 million by next year for expansion of capacity and new product development. ET Retail has reported part of the investment including US$43.70m will be used to set up a dairy plant whose site may be relocated from Maharashtra to…

Britannia profit rises 19.41% driven by double-digit volume growth in Q1

INDIA - The Indian food-products corporation, Britannia Industries has said consolidated net profit for the quarter ended June 2018 increased by 19.41% to US$37.56 million helped by double-digit volume growth, ET Retail reports. Total income rose to US$376m compared to US$345m in the corresponding period of the previous fiscal. According to BSE filing by the…

Britannia invests US$29m in a new greenfield manufacturing facility in Assam

INDIA - Britannia Industries, the Bengaluru, Karnataka based food products corporation has invested US$29.1 million in a new greenfield manufacturing facility in Rampur, Guwahati, Assam. The facility, one of its largest in India, will produce a wide array of Britannia products to cater extensively to Assam and the north-eastern States. The unit has production capacity…

Britannia embarks on global sourcing to cut costs with profits 25% higher

INDIA - The Indian biscuit maker and food products corporation has reported a 25% increase in net profit in the fourth quarter ended March 31, boosted by high demand met through a wide distribution reach across its market. Following a reformed tax environment that recognizes a uniform producer levy, Britannia said it was consolidating its…

Britannia to add 50 new products, grow regionally by 2020

INDIA - FMCG major Britannia Industries has plans to launch around 50 new products under its existing as well as new categories by the end of the next fiscal as part of efforts to be a total food company, said a top company official. In view of its growth strategy, Britannia will launch dairy products…