Farm Fresh, which is a leading dairy producer, now owns over 10,000 dairy cows and bulls and expects an improvement in profitability due to further reduction in costs, and has a growing product line up and is expanding regionally.
In a strong showing at the beginning of FY25, higher revenue was derived by higher sales contribution from its new products, higher hotel, restaurant and cafe sales plus contributions from its ice cream division under Inside Scoop and Sin Wah.
Also showing promise is its Australia operations which witnessed a turnaround by recording higher revenue and generating an operating profit for the quarter, driven by rising external sales from Goulburn Valley Creamery Pty Ltd.
Farm Fresh, which is 11.7 percent owned by Khazanah Nasional Bhd, stated that the stronger and better showing is a result of the first quarter of FY25 which witnessed a category expansion of its products.
Besides this, there was a recruitment of new customers and the optimization of costs were undertaken and growth in ‘Farm Fresh Grow’ now in powder format and a newly launched chocolate malt product all spurring growth in revenue.
They recently launched a consumer packaged goods ice cream in August 2024 and with plans afoot to expand product offerings to include butter and cultured milk in the coming months the company is set to improve further.
-NIAGATIMES
