Dutch Lady Milk Industries Berhad (DLMI), at the company’s 59th Annual General Meeting (AGM) today, registered its 2021 revenue totalling RM1.13 billion, a three percent increase from 2020, including RM284.5 million in profit before tax.
Managing Director Ramjeet Kaur Virik said, “We are pleased to report our encouraging financial results in a very tough and competitive environment in 2021. This is mainly due to our strong purpose and brands, commercial execution and strategy as well as ability to meet consumer demand. Despite the unprecedented cost headwinds and global supply chain challenges, we posted strong operational profit improvement on the back of topline growth, Revenue Growth Management and a strong focus on being cost-prudent,” Ramjeet said.
She added, “Including the land sale of our existing manufacturing facility in Petaling Jaya, we have been able to post impressive financial results. Proceeds from the land sale will be used to fund the construction of our new manufacturing facility in Techpark at Bandar Enstek, Negeri Sembilan.
The market remains volatile and is subject to various domestic and global uncertainties, foreign exchange rate fluctuations and potential regulatory changes. Global dairy prices are at historically high levels and are expected to remain this way for the rest of 2022, resulting in unprecedented inflationary headwinds.
DLMI will stay focused on its Purpose of ‘Nourishing Our Planet and People in Every Stage of Life’. To drive this purpose, healthy gross margins are essential for DLMI to continue to invest in its brands and people. DLMI and the iconic Dutch Lady brand have been ever-present in Malaysian households for multi-generations since 1963 and with a wide range of popular and innovative products, is set to nourish new generations of Malaysians well into the future.
Leadership is the foundation of success in any organisation and with this in mind, DLMI has strategically embedded the 4Ps philosophy into its daily operations - Purpose, People, Performance and Potential.
Ramjeet said the Purpose of DLMI has been institutionalised for the larger benefit of all Malaysians; with an impressive range of nutritious consumer products catered to strengthen nutritional levels and fight against non-communicable diseases such as stunting, obesity and micronutrient deficiencies in children.
On People, DLMI workforce continues to be the catalyst of why Dutch Lady products are well-received by Malaysian consumers of all ages and has been instrumental in the company’s growth. In 2021, a year blighted by lockdowns and uncertainty, intense work was done by the management to ensure the safety and mental well-being of DLMI employees during the pandemic.
While on Performance, “Our robust topline growth in 2021 also demonstrates the sustainable strength of our brands to meet the high standards of consumer demand,” Ramjeet said, adding DLMI continues to focus on a high-performance culture to raise productivity in every facet of operations”.
DLMI is also cognisant of the fact that the Potential of the local market is bright; this is why the company is building a RM400 million, state-of-the-art manufacturing facility in Bandar Enstek, Negeri Sembilan to cater to its expansion plans in the country.
“The new Smart Factory will be Industry 4.0-compliant and will help spur a strong lighthouse impact for other related industries to benefit from and help expand the local business ecosystem,” Ramjeet added.
“As a major successful dairy manufacturer, sustainability concerns make up a large component of the business to ensure safe, high-quality and affordable nutrition is freely accessible to Malaysians while Nourishing Our Planet and People in Every Stage of Life. This ‘Grass to Glass’ philosophy is the bedrock of DLMI’s sustainability roadmap underlying four objectives - nourishing Malaysians with better nutrition, driving sustainable initiatives at the farm level, ensuring better balance with a smaller carbon footprint and post-consumption efforts,” Ramjeet said.
“We are proud of our team for working purposefully; tirelessly distributing quality Dutch Lady products to all parts of the country and supporting the Government’s national health agenda to achieve better health and nutritional status for all Malaysians. We are grateful for the trust of our shareholders and support of the Rakyat of Malaysia. We look forward to continue nourishing the nation with our trusted dairy products,” Ramjeet concluded.
This content is provided by Neruda Communications.
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