Tuesday, 7 August 2012

F&N's Q3 profit falls sharply to RM54.6mil


Fraser & Neave Holdings Bhd's (F&N) pre-tax profit for the third quarter ended June 6, 2012, fell sharply to RM54.63 million from RM92 million in the same period last year.

However, revenue for the period rose to RM896.70 million from RM882.48 million, driven by strong volume growth in all divisions, it said in filing to Bursa Malaysia today.

F&N, which no longer distributes Coca-Cola products effective this financial year, said the soft drinks revenue increased 22 per cent on account of higher sales across all product categories partly from strong promotional drives and earlier Hari Raya selling-in window this year.

On prospects, the company said its operating performance would be much lower than last year, due to the absence of the coca-cola business.
It said although consumer confidence sentiment remained strong, the business would however continue to be challenged by macro and global financial uncertainties, affecting commodities' prices and currencies.

"While the company's operating results will be much lower than that of last year due to the absence of the coca-cola business and the challenges faced by the dairy business in Malaysia and Thailand, F&N's overall results will be bolstered by the non-operating items, deferred tax asset recognition and pital gain crystallation," the company added. Bernama

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