Karachi: National Foods Limited has achieved a record group revenue of over PKR 106 billion (USD Rs375 million) for the fiscal year 2024, marking a significant milestone with a 34% increase from the previous year. This growth includes substantial contributions from its operations in Pakistan, its international division NFDMCC, and A1 Cash and Carry in Canada.

The Chairman of National Foods highlighted the company's exceptional performance, attributing it to the strategic initiatives and robust management efforts across all sectors. According to information available from the Pakistan Stock Exchange (PSX), the company has seen a diversified growth, with its core business in Pakistan increasing by 25% and A1 Bags and Suppliers Inc. growing by 42%.

The economic indicators for Pakistan have shown signs of improvement with decreased inflation, better current account balance, and growth in foreign exchange reserves, supported by a stabilized PKR/USD exchange rate and the successful completion of a Rs3 billion SBA program with the IMF. These factors have played a crucial role in bolstering National Foods' market position.

Despite facing inflationary pressures and challenging economic conditions, the company has maintained its profitability through strategic cost transformations and operational efficiencies. However, the profitability was affected by a period of high gearing resulting from strategic investments both locally and internationally.

The company's commitment to diversity and inclusion is highlighted through its BELONG program, which focuses on creating an inclusive workplace culture. This is part of a broader initiative that includes a comprehensive well-being program aimed at enhancing employee engagement across various domains.

Looking ahead, National Foods plans to continue its investment in strategic projects, including the deployment of SAP HANA, commissioning of a mega plant in Faisalabad, and expanding its logistics and retail presence in Canada. The Chairman expressed confidence in the company's strategic direction and its ability to achieve its ambitious vision for 2030.