In the second quarter of 2024, Dutch Lady Malaysia reported revenue of RM360.9 million, reflecting a growth of 2.8% versus the same period last year. The dairy company said the revenue increase was driven by volume growth and carry-over effect of price increases implemented in 2023, as well as selective pricing on one of the product ranges in 2024 and the mix of products sold.

Operating profit for the quarter amounted to RM30.5 million, representing a 10.2% decline from the RM33.9 million recorded in the same quarter of the previous year. The reported Operating profit includes costs for accelerated depreciation and one-off expenses totaling RM14.7 million in Q2 2024, a substantial increase from the RM3.8 million cost adjustment reported in Q2 2023.

On a like-for-like basis, operating profit excluding accelerated depreciation and one-off costs stands at RM45.2 million, reflecting a substantial 19.7% increase compared to the same quarter in 2023. This growth is primarily driven by increased revenue and reduced costs of dairy raw materials.

Profit Before Taxation for the quarter amounted to RM29.0 million, compared to RM33.0 million in 2023 as a result of the above-mentioned drivers, whereas Profit After Taxation decreased by RM2.2m to RM22.0 million.

Dutch lLady said the outlook remains cautiously optimistic due to the strength of its brands, and the increasing need for and recognition of the goodness and nutritional value of milk amongst Malaysians. The company said it will continue to support local dairy farmers, aiming to enhance both the quantity and quality of locally produced fresh milk.