DAIRIBORD Holdings has intensified its commitment to rigorous cost containment measures in response to the ongoing market turbulence. Price volatility, exchange rate fluctuations, and liquidity challenges characterise the current market landscape.
“The group is aggressively pursuing a lean and agile cost structure, ensuring sustained profitability and long-term value creation for our stakeholders,” stated Dairibord’s chairperson board Josphat Sachikonye in the group’s financials.
During the financial year ending December 31, 2023, the milk products processor faced significant cost escalations due to imported inflation and price distortions resulting from exchange rate movements. Material costs and utilities witnessed sharp increases, leading to a 41 percent surge in the cost of sales when adjusted for inflation.