Tag: Britannia

United Breweries Q4 profits rise as Britannia’s quarterly fortunes plunge 7%

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INDIA –  United Breweries, one of the leading beer makers in India, has reported a consolidated net profit of Rs 97.53 crore (about US$13 million) in the fourth quarter ended March 31, riding on good volume growth in markets across the country. This is an over two-fold jump compared to the company’s net profit of Rs 41.82 crore (aboutUS$5.6 million) achieved during the same period last year, United Breweries Ltd (UBL) said in a regulatory filing. Consolidated total income from operations stood at Rs 3,629.75 crore (about US$487.2 million) as…

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Biscuit maker Britannia eyes India’s salty snacks market in expansion strategy

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INDIA – Britannia industries, leading manufacturer of biscuits and snacks in India, has unveiled plans of diversifying into the salty snacks market in the country as part of its expansion strategy. According to a reports by ET Retail, the group plans expanding into the non-biscuits segments through the launch of salty snacks under its existing brand, Time Pass. Varun Berry, managing director at Britannia Industries, unveiled that the group will capitalise on its high production capacity in the production of the new variants. “It will be a differentiated product range…

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

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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 valued at $0.029 each. “There had been a significant rise in the market price of the equity shares of the Company over a period of last one year,” said the company in a regulatory filing.…

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

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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 Andhra Pradesh. Britannia Industries chairman Nusli N. Wadia said the relocation remains in waiting pending Maharashtra government’s report on the incentives for the dairy project. He said that the company will not enter fresh milk…

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

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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 company, reported revenue, part of total income, for the quarter ended June 30, 2018, was not comparable to the revenue reported in the previous period due to implementation of GST. The government of India introduced lower…

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

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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 of 60,000 tonnes biscuits annually and is an addition to two other manufacturing facilities in Assam with production capacity of 30,000 tonnes annually. According to Varun Berry, Managing Director, Britannia Industries, the company is a…

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

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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 synergies as it embarks on global sourcing in a bid to cut on costs. The company was setting up a US$22.83 million manufacturing facility in Gujarat responsible for making cookies, biscuits and rusk and which…

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Britannia to add 50 new products, grow regionally by 2020

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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 by end of 2019 and croissants through its joint venture with Greek cakes and confectionery major Chipita by October-November of 2018. Besides, the company will continue with its strategy of adding new countries in its…

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Britannia enters chocolate sector, to compete with Nestle

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INDIA – Biscuit maker Britannia has started selling chocolate wafers, competing with brands such as Nestle’s Kit Kat. The company has extended its Pure Magic biscuit brand to chocolate wafers, in the format of slabs of chocolate on top of biscuits. “This marks our first time in the real chocolate space and we will retail the product accordingly, with the main focus on modern retail and ecommerce,” Britannia VP marketing Ali Harris Shere said. The product was launched in Bengaluru and is now being taken to the national level. “We…

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Britannia rues lack of consumer demand as GST issues linger

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INDIA – More than a year after demonetisation and six months since the GST was implemented consumer demand still remains sluggish with no immediate signs of uptick and people not feeling “bullish,” biscuit maker Britannia said. Rural growth, in spite of showing glimpses of optimism, is not entirely back to what it was, as people are still holding back on spending. “Are we out of the woods? I am not sure. It will take more time for heady double-digit volume growth to come back, something we haven’t seen in the…

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