- India set South Africa 204- run target in 1st T20
- Moderate polling in Tripura Assembly elections
- PNB fraud fuelled during demonetisation: Bengal CM
- Shame on you! student tells Trump at Florida anti-gun rally
- Modi inaugurates new BJP headquarters in Delhi
- Naval chopper tender: AgustaWestland withdraws plea from HC on bank guarantee
- Sebi may give fresh push to loan default disclosure by listed firms
Britannia scouts for growth opportunities in bakery segment
FMCG major Britannia is scouting for profitable growth opportunities, especially in the bakery segment, to strengthen its position as a leading food company in the country, according to the company’s annual report.
“Going forward, your company’s major focus areas would be entry into adjacent food categories... Your company has been actively working on realising untapped opportunities in the bakery business as well as in the adjacent macro snacking space,” Britannia said in its Annual Report for 2016-17.
It further said: “Your company shall continue to scout for many such profitable growth opportunities to ensure that it stays ahead of the market while transforming itself into a total foods company.”
Last year, Britannia, whose main business segments are bakery and dairy, had entered into a joint venture (JV) agreement with Greece’s Chipita S. A for manufacture and sale of ready-to-eat filled croissants.
Currently, the work is underway to establish operations of the JV.
The company also expects to use its newly-launched research & development (R&D) centre at Bidadi near Bengaluru for launch of new products.
“R&D centre is now fully operational with enhanced capabilities for the core as well as future adjacent product categories which will help in innovating faster with superior product experience delivery,” it added.
In order to increase its international business, the company said it is also evaluating entry through local manufacturing, wherever feasible, in high potential markets which are currently not accessible through exports routes due to high trade barriers.
Britannia is present in more than 70 countries, its key geographies being West Asia, Africa, Americas, Asia Pacific and SAARC.
For the entire 2016-17 fiscal, Britannia Industries reported a net profit of Rs 884.61 crore on net sales of Rs 9,232.30 crore.
- Business Corner 17 Feb 2018 | Pioneer
- SRM University inks MoU with NASSCOM 17 Feb 2018 | PNS
- AAI plans to invest Rs 15k cr on airport terminals in next fiscal, says Chairman 17 Feb 2018 | PTI
- LIC posts 11.5% growth in premium income at Rs 2.23 tln in 9 month period 17 Feb 2018 | PTI
- SEBI eases accessibility for FPIs 17 Feb 2018 | PTI
- Govt expects to finalise 5G service roadmap by Jun 17 Feb 2018 | PNS
- RIL to buy 65% stake in IFC for Rs 1,105 cr 17 Feb 2018 | PNS
- Penalty up to Rs 50L/circle for predatory tariff: TRAI 17 Feb 2018 | PNS
- Fix risk management system, says India Inc 17 Feb 2018 | PNS
- ‚ÄėSBI has $212-mn exposure via PNB‚Äô 17 Feb 2018 | PTI
Sunday EditionView All
18 Feb 2018 | Gwynne Dyer
Now that Jacob Zuma has finally exited, the African National Congress, which has fallen a long way from its glory days, has one last chance to rebuild its reputation before next year’s election. Whether the ANC is the best bet for South Africans is a different question altogether As a passer-by in the upscale Johannesburg suburb of Saxonwold observed, the South African Police would never have raided the enormous, high-walled compound...
STATE EDITIONSView All
18 Feb 2018 | Staff Reporter | Raipur
Chief Minister Raman Singh on Saturday dedicated to the people of the State an interntional standard 'Swami Vivekananda Stadium' built at a cost of Rs 17 crore at Kota in Raipur. After inaugurating the stadium, the Chief Minister had a look at various facilities at the stadium...