Financial Daily from THE HINDU group of publications
Wednesday, Jan 07, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jan 07, 2004 |
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Corporate
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Outlook Britannia plans to consolidate milk biz in Mumbai Our Bureau
Mumbai , Jan. 6 HAVING exited from the liquid milk business in Delhi and the Southern markets, the Britannia group is now trying to consolidate its business in Mumbai and Pune. According to officials of its joint venture, Britannia New Zealand Foods Pvt Ltd, the company sees great potential in Mumbai and Pune's liquid milk market, which is growing at a rate of 6-7 per cent. The company plans to expand its distribution network to take advantage of the growing market, said Mr Naveen Chopra, General Manager, Britannia New Zealand Foods Pvt Ltd. "We intend to firm up our standing in the milk market over the next couple of months with aggressive sales and distribution," he said in a release on Tuesday. In Mumbai there are areas where there is potential for expanding the distribution network. The company will also be appointing more distributors, he said. The company, which had a turnover of Rs 250 crore in the last fiscal, is targeting 15 per cent growth this year, Mr Chopra said. The company currently operates in Hyderabad, Kolkata, Mumbai and Pune. The joint venture had earlier exited from the liquid milk market in Tamil Nadu and Kerala. Britannia Industries had transferred its dairy business to the joint venture — in which it has an equal 49 per cent partner with Fonterra Co-operative Group of New Zealand — from March 2002. Prior to the hiving off, the dairy business was contributing nearly 10 per cent of Britannia's annual turnover.
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