FanMilk to expand reach through innovation
FanMilk Limited, Ghana's leading dairy products manufacturer, has reinforced its commitment to innovation and sustainability to meet the evolving customer needs.
The renewed focus will drive infrastructure investments, including the upcoming ‘Project KILIMANJARO’ initiative that aims to significantly expand cold chain capabilities to ensure product quality and availability across Ghana.
The Managing Director, FanMilk, Lionel Parent announced this during his outfit’s turn at the Ghana Stock Exchange's 'Facts Behind the Figures' to share with stakeholders an overview of its 2024 financial performance while providing strategic insight into the company's plans for a sustainable future.
“In 2025, FanMilk PLC was poised for robust growth. The next phase of project SANKOFA will deepen our focus on outdoor channel, while project KILIMANJARO will expand our cold chain to support rising demand.
Operational priorities include energy efficiency through capital expenditure (CAPEX) projects such as boreholes, and recruiting talent to sustain momentum,” he stated.
2024 performance
FanMilk PLC delivered a robust performance for the 2024 financial year marked by significant revenue and profit growth, operational enhancements, and a deepened commitment to sustainability.
The company recorded a Profit Before Tax (PBT) of GH¢72,921 million against the GH¢37,055 recorded in 2023.
It achieved a 24 per cent Year-on-Year increase in revenue and more than 100 per cent growth in both profit and Earning Per Share, reflecting the success of its strategic initiatives and operational efficiencies.
He said 2024 was a transformative year for Fan Milk PLC, marked by resilience, innovation, and a renewed commitment to delivering refreshing products to Ghanaians.
“Guided by our 'Bring Back the Pride' ambition to recover lost volumes and achieve 100KT within five years, we delivered a remarkable 23 per cent growth in total volumes through our core outdoor channel.
This success reflects our employees' dedication, enhanced trade fundamentals, improved product availability, and robust cash receivables management,” Mr Parent said.
He said the company’s flagship initiative, ‘project SANKOFA’, reconnected with trade partners, reigniting its drive for sustainable growth and restoring pride in the FanMilk brand.
“Our distribution network, with 800 net agents, 21 key distributors, and nearly 7,000 vendors, remains the backbone of our growth, ensuring nationwide product availability,” he added.
The Board Chair for FanMilk PLC, also stressed that the company was committed to innovation, sustainability and community engagement.
She said “we anticipate continued growth in our product lines and further expansion of our distribution network.”
She said with a strong foundation and a clear vision, FanMilk was well positioned to achieve new heights in 2025.