PETALING JAYA: Dutch Lady Milk Industries Bhd
(DLMI) is cautiously optimistic about its outlook for the remainder of its financial year 2024, despite facing inflationary pressures and currency fluctuations.
In a filing with Bursa Malaysia, the group attributed its optimism to the strength of its brands and the growing demand for nutritious milk among Malaysians.
“DLMI will continue to focus on optimising costs and cashflow and is implementing a fit-for-purpose organisation to increase effectiveness,” it noted.
For the third quarter ended Sept 30, 2024 (3Q24), DLMI’s net profit rose marginally to RM17.2mil from RM16.8mil in 3Q23, owing to a positive correction on costs initially disallowed for tax deduction.
The company reported a revenue of RM355.5mil, a 4.6% drop compared to RM372.8mil in 3Q23.
The company attributed the decline to the transition of its manufacturing and distribution hub, which temporarily affected product availability.
However, DLMI noted that its core product range remained fully stocked in stores.
For the first nine months of 2024 (9M24), DLMI’s net profit surged 33% to RM65.92mil from RM49.57mil in 9M23, while revenue was flat at RM1.08bil.
