Britannia Industries expects 20% turnover increase

10 August 2010 –  Indian biscuit and cake producer Britannia Industries expects 20% growth in its financial year 2011 turnover, chairman Nusli Wadia has told shareholders at the company’s annual general meeting.

The firm reported net sales of 37.7 billion rupees (€62m) in the financial year 2010. Some of its brands include Marie, Snax, Little Hearts, Fifty Fifty and Tiger.

The comment, however, comes after the company saw a slump in net profit due to a steep rise in key ingredient costs such as sugar, flour and milk. It is considering raising prices by 5-10% dependent on product category and pack size.