IIPM Press Release :- A ‘bitter’ tale of two companies….
IIPM PUBLICATION
And today,
when Britannia has got back the Tiger brand (which contributed 30% of its annual revenues of Rs.17.65 billion in 2005-06), does the situation get any better? The company is barely recovering from the impact of aggressive competition, especially ITC with its Sunfeast range. Sumeet Budhraja, FMCG Analyst, Edelweiss Securities Pvt. Ltd. told B&E, “...of course the way ITC is catching up the market, it can be a problem for Britannia in future.” Britannia’s recent financials do indicate bottomline pressures, which in turn can be attributed to rising commodity prices and the battle for defending market share. Profits for Britannia have dropped by 1.6% during 2006 to touch Rs.1.46 billion and by a spine-chilling 51.5% for the quarter-ended September 30, 2006, to Rs.212 million as compared to 2005. And problems with Danone don’t seem to cease! Danone’s recent plans to buy off a 5% stake in bionutrients company Avesthagen on November 24, 2006, have been blocked by the Wadias, who cite it as a breach of contract. Speculations are already rife that the relationship is now on the rocks.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006
An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative
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posted by Surender @ 4:34 PM
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