F&N posts 48% jump in 1Q earnings to S$37.9 mil on lower costs, share of associate Vinamilk

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SINGAPORE (Feb 11): Fraser and Neave (F&N) saw its earnings rise 47.5% to S$37.9 million for the 1Q19 ended December 2018, from S$25.7 million a year ago.

The increase was largely due to robust performance from the group’s Dairies business, as well as higher profit contribution from Vinamilk, F&N’s associate company in Vietnam.

1Q19 revenue inched 0.4% higher to S$464.4 million, from S$463.5 million a year ago, on higher dairy and soft drinks sales in its core markets of Malaysia, Singapore and Thailand.

However, the better performance in Food & Beverage (F&B) was partly offset by...(click on link for full story on theedgesingapore.com)