F&N’s 4Q net profit surged to RM81.24m from RM19.65m

by TMR

Fraser & Neave Holdings Bhd’s (F&N) net profit for the fourth quarter ended Sept 30, 2018 (4QFY18) surged to RM81.24 million from RM19.65 million a year ago, attributed to increased contribution from both Malaysia and Thailand business.

Revenue for the quarter slightly increased to RM996.64 million from RM976.28 million in 4QFY17 due to the same reasons.

In an exchange filing yesterday, F&N noted its F&B Malaysia’s current quarter revenue grew by 1.9% year-on-year to RM545.4 million with higher sales for the domestic and export market driven by continuous efforts to improve local trade execution and higher export sales.

F&B Malaysia also recovered from operating loss of RM11.5 million in the corresponding quarter last year to post an operating profit of RM36.5 million in the current quarter mainly due to higher revenue, operational efficiency and favourable input cost which helped offset higher packaging and marketing costs compared to 4QFY17.

F&B Thailand’s revenue increased by 2.3% YoY to RM450.9 million due to successful promotional activities and brand loyalty campaigns as well as higher export sales from market expansion and execution of loyalty campaigns across Cambodia and Laos. F&N recommend a final single tier dividend of 30.5 sen per share for approval by shareholders at the forthcoming AGM.