Friday 29 Mar 2024
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KUALA LUMPUR (Nov 6): Fraser & Neave Holdings Bhd’s (F&N) net profit dropped 22% to RM62.20 million in the fourth quarter ended Sept 30, 2014, from RM80.02 million in the previous corresponding quarter.

The soft drinks and dairy product manufacturer recommended a final single-tier dividend of 33 sen per share.

F&N said its lower profit was mainly due to the recognition of insurance claims of RM31 million in last year's corresponding quarter.

Excluding this quantum, profit for the quarter grew by RM19.2 million.

Quarterly revenue grew 7.5% to RM964.5 million from RM897.5 million.

The growth was driven by contributions mainly from the three core business units -- soft drinks, Diaries Malaysia and Diaries Thailand segments -- on the back of better volumes and product mix.

For the full financial year ended Sept 30, the group’s net profit was flat at RM259.42 million from RM259.48 million previously, while revenue grew 8.9% to RM3.82 billion from RM3.51 billion a year earlier.

F&N expects private domestic consumption to moderate next year with the introduction of the goods & services tax (GST).

In Thailand, private consumption is expected to gradually return to normal, following the change in government in May.

F&N share price went up two sen to RM16.12 for a market capitalisation of RM5.9 billion.

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