KUALA LUMPUR (Nov 5): Fraser & Neave Holdings Bhd’s (F&N) net profit fell 17.7% in the fourth quarter ended Sept 30, 2019 (4QFY19) to RM68.03 million from RM82.65 million a year ago, due to lower profit contribution from its Malaysian and Thailand operations and higher operating expenses incurred. 

Quarterly revenue, however, grew 2.9% to RM975.09 million, from RM947.64 million a year ago.   

Operating profit for the food & beverage (F&B) in Malaysia declined 27% to RM27.7 million in 4QFY19, mainly due to one-off and non-operating items. Excluding one-off and non-operating items, operating profit for the F&B in Malaysia grew by 6.5%, F&N said in a statement. 

Meanwhile, its F&B in Thailand saw operating profit shrinking 11.7% in local currency due to higher brand investment and trade spending for new product launches, the group added. However, the drop was barely 1.8% in terms of ringgit to RM60.6 million, from RM61.7 million, given the strengthening Thai baht.  

The group declared a final single dividend of 33 sen per share, bringing total dividend for FY19 to 60 sen. This was higher compared with total dividend of 57.5 sen per share for FY18. 

Overall, the group’s net profit expanded 6.13% y-o-y to RM410.26 million in the full financial year ended Sept 30, 2019 (FY19), from RM386.55 million, as revenue increased 5.33% to RM4.08 billion, from RM3.87 billion a year ago.