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Fortune Foods Ltd.

BSE: 519187 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE712V01018
BSE 05:30 | 01 Jan Fortune Foods Ltd
NSE 05:30 | 01 Jan Fortune Foods Ltd

Fortune Foods Ltd. (FORTUNEFOODS) - Chairman Speech

Company chairman speech

FORTUNE FOODS LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT Dear Shareholders, I am happy to report that your Company's performance during 2007-08 has improved considerably. Your Company recorded sales of Rs. 1449.67 lacs which is lower by 31.94% over the previous year's. During the year sales was lower because we have converted business of Parle Agro from 2P to 3P basis from 1st November 2007 (Job work) The Company has turned around and made a profit (EBIDTA) of Rs. 246.65 lacs. Your Company coming out of red is a milestone in the Company's history, indicating the end of bad days. During the year Company has started operations for M/s. Parle International Ltd., Mumbai in full swing. The products i.e. 'Frooti'- Mango Drink & 'Appy Fizz' Apple Carbonated Drink in pet bottles have received tremendous response from the market. This tie-up will enable the Company to sustain its performance in the years to come. The general awareness towards health and hygiene among the masses adds to the growing demand for bottled drinks. Your Company is in the final stages of talks with a number of MNCs, organized retail format stores, hyper market owners etc. for packaging of branded juices/drinks in pet bottles, vegetables and other products. I wish to thank all our staff for their commitment and diligent discharge of the assigned functions which has collectively contributed to your Company's turn around resulting in positive net worth. Today I experience a sense of achievement which has been possible because of your continuous support and confidence evinced by you. I thank you all for the same. I place on record my sincere appreciation, for the cooperation and support extended by all customers, business associates and bankers. I am hopeful and confident of the continued co-operation from one and all in the years to come. With best wishes. Sincerely, Naresh Gupta Chairman & Director