Manufacturing powerhouse FMF Foods Limited (FMF Group) has reiterated its dedication to a long-term growth strategy as it prepares for the upcoming financial year. During the annual general meeting held at the group’s headquarters in Walu Bay, Suva, board chairperson Jenny Seeto emphasized the company’s solid financial position, healthy balance sheet, and robust asset backing. These factors have facilitated continued shareholder rewards while allowing for strategic investments aimed at future growth.
Despite operating within a challenging competitive landscape, characterized by rising input costs, pressure from freight rates, and global supply chain disruptions, FMF Group has successfully increased both its scale and strength. According to Ms. Seeto, the company’s financial achievements serve as a testament to its disciplined management practices, strong brand identity, and the unwavering loyalty of its customers.
“Notable challenges this year included escalating global commodity prices, unpredictable freight schedules, and increased labor costs following a national wage adjustment,” Ms. Seeto remarked. However, she highlighted that through careful planning and operational agility, FMF has navigated these difficulties, ultimately emerging stronger and more resilient.
Looking towards the future, FMF Group remains unwavering in its commitment to operational excellence, innovation, regional expansion, and sustainability. Ms. Seeto revealed that the company plans to explore new product lines while enhancing manufacturing efficiency and strengthening local sourcing.
“Our focus on continual improvement, sustainability, and the development of our workforce will be critical for providing consistent returns to our shareholders and stakeholders in the coming years,” she stated. Additionally, FMF aims to advance new growth initiatives, particularly in the electric vehicle (EV) sector, which aligns with global trends towards sustainable transportation. This strategic move is expected to be executed in a controlled and value-adding manner.
For the financial year ending June 30, FMF Group reported a revenue of $348 million, an increase from $334.8 million in the previous year, with stable demand driving growth in its key product categories. The company also recorded a net profit after tax of approximately $6 million, total assets rose to $269.2 million, and shareholders’ equity increased to $168.9 million.
As FMF Group steps into its next chapter, its commitment to innovation, sustainability, and operational excellence is poised to deliver exciting growth opportunities, not just for the company, but also for its shareholders and the community at large. The continuation of this proactive approach signals confidence in navigating challenges and seizing opportunities in a complex global marketplace.
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