Dutch Lady posts lower net profit of RM16.8mil for 3Q

Dutch Lady Milk Industries Bhd managing director Ramjeet Kaur Virik

PETALING JAYA: Dutch Lady Milk Industries Bhd (DLMI) will stay focused on its investments in the dairy market to maintain its position as the country's market leader, according to managing director Ramjeet Kaur Virik.

“We remain confident that DLMI’s wide range of offerings, disciplined and focused management and continued strong demand for our products will help us remain committed to our purpose of Nourishing the Planet and People In Every Stage of Life,” she said in a statement.

Ramjeet said the dairy group remains focused on cost and revenue management to be able to invest in its brands, assets and people as talent is critical in the long-term objective of driving milk consumption in the country.

She added that DLMI would invest RM540mil in total between 2021 and 2025 in the state-of-the-art Bandar Enstek manufacturing hub to cater for its ambitious plans for the future.

“We continue to be focused on the next phase of our growth as our new manufacturing hub is scheduled to be completed in 2024. The upgraded technology will bring new skills and opportunity for growth in terms of innovation, improved efficiencies, and overall sustainability,” Ramjeet said.

In the third quarter to Sept 30, DLMI’s net profit fell 31.2% to RM16.8mil, or earnings per share of 26.20 sen from RM24.4mil, or 38.10 sen posted in the same quarter last year.

Revenue rose 10.4% to RM372.8mil against RM337.8mil a year ago.

For the first nine months, it posted a net profit of RM49.6mil on revenue of RM1.08bil.

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