Fraser & Neave Holdings Bhd (F&NHB) would prioritise improving and managing costs, particularly Cost of Goods Sold (COGS) which includes reviewing trade expenditure, strategic CAPEX investment to extract efficiency, and smart procurement to obtain better value, its Chief Executive Officer Lim Yew Hoe said
In a presentation at the company’s 60th Annual General Meeting, he said that the group will also leverage its strong manufacturing capability, diversify its range of products, and refine its product mix and pricing to maximise profitability.
“Riding on the encouraging return of economic activities, we will continue to build on adaptive channel strategies to capture opportunities in a fluid environment. We believe that we are equipped to manage the challenges, like how we have navigated COVID-related disruptions and uncertainties to deliver resilient performance over the past two years,” he said.
For the longer term, Lim said that the Group remains steadfast in its strategic priorities and continues to build its fourth business pillar – Halal Packaged Food. A year after the acquisition, the Sri Nona Companies made its maiden positive contribution to FY2021.
He said that the group foresees that the Sri Nona brand has much more potential to be realised, especially in meeting the rising demand for convenience and ready-to-eat food products. “The halal food business is growing at a double-digit rate. As such, the Group is currently looking into expanding its product range and production capacity as part of its long-term strategy to expand into Halal markets,” he said
Lim said that exports will remain a key focus for Food & Beverage Malaysia and Food & Beverage Thailand in FY2022. “The Group’s resilience in managing COVID-19 uncertainties is bolstered by its diversified products and geographical presence.
He said that the strong export growth contributed close to RM900 million or 21.7% of the Group’s revenue in FY2021, fuelled by significant progress in Indochina, Greater China, the Middle East, and Africa.
He said that exports will remain a key focus for Food & Beverage Malaysia and Food & Beverage Thailand in FY2022.
He said that the group’s resilience in managing COVID-19 uncertainties is bolstered by its diversified products and geographical presence. Strong export growth contributed close to RM900 million or 21.7% of the Group’s revenue in FY2021, fuelled by significant progress in Indochina, Greater China, the Middle East, and Africa. This boosted F&NHB’s positive revenue growth for FY2021, recording 3.6% year-on-year growth in a full pandemic year.
