The company said there was a marketplace slowdown seen in the last few months, which it expects to be neutralised after elections with a stable government.
Britannia acknowledged a slowdown in the marketplace for the food FMCG industry in the last quarter, while announcing a 10% rise in its quarterly consolidated revenue, with a 15% jump in the net profit. However, it hopes that with a stable government after the Lok Sabha Elections 2019, the slowdown will be balanced out, the popular bread and biscuits maker Britannia said in a statement. Also, the company has pinned hopes on the favourable monsoon forecast.
The company said there was a marketplace slowdown seen in the last few months, which it expects to be neutralised after elections with a stable government and a favourable monsoon forecast, Varun Berry, Managing Director of Britannia, said. He also revealed the company’s plan to launch new products in the coming quarters.
Meanwhile, Britannia spokesperson didn’t say any further beyond the statement when Financial Express Online reached out for additional comments.
Wadia group’s Britannia clocked revenue growth of 10% at Rs 2,764 crores in the last quarter for FY19. Full-year revenue was recorded at Rs 10,973 crores, growing at 12%. The company also said that there was a 13% jump in its Q4 profits. The same was 15% for the full year.
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Britannia has witnessed inflation in the prices of its chief raw materials. However, the company has not disclosed the consequence of the same on the Q4 results.
Innovation and new launches
With several new launches in both products and category, and innovation, the company has maintained momentum in the base business, said Varun Berry, adding that expansion in distribution and cost efficiency programs have helped drive the momentum as well.
The company launched several products such as Treat Burst, Treat Stars, and Milk Bikis Chocolate Cream. It has also revamped its Cakes portfolio with the Swiss Rolls, Layer Cakes and Brownie.
In the category release, the company has introduced cream wafers and flavoured milkshakes. Britannia said that the new category launches have garnered positive reviews from the market.
In select markets, the company tested waters for products — treat croissant and timepass salted snacks.