National Foods Limited has expanded its footprint to the USA market by setting up a separate and indirect subsidiary, National Epicure Inc.
The expansion of the business to the USA market is a part of the global business strategy of the company with ambitions to grow their businesses in the growing market of the world in terms of their products.
In its stock filing to the PSX, the detailed:
As part of the strategy on international business, the company’s wholly-owned subsidiary, National Foods DMCC, based in Dubai through its further subsidiary, i.e., National Epicure Inc., in Canada, has established a further subsidiary, namely National Epicure Inc. USA, in the USA.
National Foods Limited is principally engaged in the manufacture and sale of convenience-based food products, including recipe masala, ketchup, and pickle.
The company reported a profit of 42 percent in the first quarter of the financial year 2021-22, which stood at over half a billion. The company’s local sales stood at Rs. 7.9 billion whereas its exports sales remained at Rs. 427 million in the first quarter of FY22.
According to a quarterly report, the business continued to accelerate the business transformation by focusing on optimizing revenue, cost transformation, and driving volume initiatives across all regions through brand and consumer-led activities. As a result, the operating profitability witnessed handsome growth in the core business, coupled with aggressive growth in the international segment.