Peru: Leche Gloria's Remarkable Financial Performance in 2024

In an impressive financial performance, Peru's dairy giant, Leche Gloria, witnessed a 44.2% surge in its net profits, surpassing S/ 246 million in 2024. The company also experienced a 3.8% growth in net sales, attributed to an increase in sales of evaporated milk and dairy derivatives.

Leche Gloria's net sales reached S/ 4,252.8 million, up from S/ 4,097.5 million in 2023. This increase was driven by higher sales of evaporated milk and related dairy products domestically.

The cost of goods sold decreased by 1.0%, aiding in boosting the gross margin by 26.1%, reaching S/ 922.7 million. Consequently, the profit margin rose from 17.8% in 2023 to 21.7% in 2024. Administrative expenses, however, rose by 8.2% due to increased staffing and operational costs.

Leche Gloria's net equity grew to S/ 1,623.4 million from S/ 1,577.2 million in 2023, reflecting net profit gains and a dividend payout of S/ 200 million. The company boasts a dominant position in evaporated milk production in Peru and also markets mass-consumption goods such as canned fish, jams, and Christmas cakes.