Showing posts with label fn. Show all posts
Showing posts with label fn. Show all posts

Wednesday 21 February 2024

Fraser & Neave at a glance

 


















































Price per share: RM29.20 
Market Capital (RM) 10.710b 
Number of Share 366.78m 
Revenue (TTM) 5.116B 
Net Profit (TTM) 508.84M 
Net Margin (TTM) 9.9% 
EPS (TTM) 138.73 
P/E Ratio 21.05 
ROE 14.29% 
P/B Ratio 3.01 
NTA 9.710 
5y CAGR - Revenue 4.0% 
5y CAGR - Profit 6.9% 
Dividend (cent) 77.000 ^ 
Dividend Yield 2.64% 


Over the last 10 years, the revenues grew about 4% yearly and the PBT grew at a slightly faster rate of about 6.9%. This indicated its profit margins had improved.  Over the 10 years above, its PBT Margin increased steadily from 8.3% to 12.5%. 

Its NAPS (Net Asset Price per Share) grew from RM 4.603 per share to RM 9.112 per share. F&N is a great company, with high ROE in the mid teens. Its ROE for the above 10 years period ranged from low of 12.9% to a high of 19.4%; averaging 15% to 16%. 

Given the risk free interest rate of 5% or so, its present price of RM 29.2 per shar means it is trading at a P/NAPS of 3.01 x. This valuation means it is trading at a fair price today. 

F&N has distributed dividends yearly. Its DPO was around 52% to 56%. Its latest DY is 2.68%. 

In summary, F&N is a great company, growing at a slow rate of 5% to 7% yearly. It retained about 50% of its earnings for future growth and with its ROE at around 15% or so, and many new projects for future growth, this stock in my portfolio remains for the long term.

Tuesday 21 August 2018

F&N’s earnings to be driven by export growth, cost efficiency


F&N’s earnings to be driven by export growth, cost efficiency
August 20, 2018, Monday



KUCHING: Analysts project the future earnings of Fraser & Neave Holdings Bhd (F&N) to be driven by the continued strong export growth and improved cost efficiency as a result of cost optimisation efforts and better economies of scale.

Following a visit to F&N Dairies Manufacturing plant in Selangor Halal Hub, the research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) highlighted that F&N targets total export revenue to reach RM800 million by 2020.

According to MIDF Research, as of the first nine months of financial year 2018 (9MFY18), export contributes 16 per cent of total revenue whilst for F&N’s Malaysia and Thailand segments, these grew 20 per cent year on year (y-o-y) and 10 per cent y-o-y respectively.

“We estimated export revenue to contribute between the range of RM642.9 million to RM710.6 million for FY18,” the research arm said.

“Assuming the same rate of growth, F&N poised to achieve its total export revenue target before 2020.”

MIDF Research noted that F&N’s two main segments, the Malaysian and Thailand segments, which contribute 57.1 per cent and 42.9 per cent respectively to total revenue (including export) are currently facing intense completion.

The research arm further noted that F&N’s domestic market share for sweetened condensed milk has slipped from 59 per cent in FY14 to 52.4 per cent as of the first half of FY18 (1HFY18).

“Despite the declining market share, revenue dropped marginally by 0.4 per cent y-o-y and 0.3 per cent y-o-y in the 9MFY18.

“Nevertheless, we expect a stronger revenue growth due to pre-sales and services tax (SST) purchase and new innovative products set to be launched in Malaysia and Thailand market next year.”



http://www.theborneopost.com/2018/08/20/fns-earnings-to-be-driven-by-export-growth-cost-efficiency/

Saturday 4 August 2018

F&N shares rise on higher profit

F&N shares rise on higher profit

Friday, 3 Aug 2018


KUALA LUMPUR: Shares in Fraser & Neave Holdings Bhd (F&N) rose on Friday boosted by a 51% profit increase in the third quarter ended June 30.

The counter rose 16 sen, or 0.43% to RM37.56. In the past one year, F&N shares have appreciated 54.09%.

F&N’s third quarter net profit jumped 51% to RM104.5mil, from RM69.37mil a year earlier, thanks to positive contributions from Malaysia and Thailand.

Revenue, however, was slightly lower by 1% to RM1.03bil, from RM1.04bil in 3QFY17.

Kenanga Research said F&N’s 9M18 core net profit of RM318.8mil (-6%) and the absence of dividend was within expectations.

New products are seen as key drivers for the group, amidst slow spending trends and high production costs.

“The high cost, however, could be mitigated by the group’s improving efficiency following capital investments and restructuring,” it said.

Kenanga has maintained its underperform and target price of RM32.15 on F&N.


Read more at https://www.thestar.com.my/business/business-news/2018/08/03/fn-shares-rise-on-higher-profit/#faIuSFbJd1Z3daQP.99

Thursday 24 August 2017

F&N 24.8.2017

F&N 24.8.2017
5 Years Quarterly Report History
Qtr Financial Revenue PBT  PAT PBT 
No Quarter (RM,000) (RM,000) (RM,000) Margin
3 30-Jun-17 1,041,277 73,528 69,372 7.1%
2 31-Mar-17 992,739 116,788 107,079 11.8%
1 31-Dec-16 1,091,083 144,007 127,278 13.2%
4 30-Sep-16 976,500 51,707 49,589 5.3%
3 30-Jun-16 1,095,805 111,777 93,551 10.2%
2 31-Mar-16 999,167 107,612 90,570 10.8%
1 31-Dec-15 1,053,301 171,841 151,662 16.3%
4 30-Sep-15 1,007,813 67,728 56,724 6.7%
3 30-Jun-15 1,076,216 98,303 82,925 9.1%
2 31-Mar-15 939,885 86,554 70,490 9.2%
1 31-Dec-14 1,036,325 81,244 69,935 7.8%
4 30-Sep-14 964,515 75,361 62,195 7.8%
3 30-Jun-14 971,131 71,212 60,377 7.3%
2 31-Mar-14 935,395 82,766 68,091 8.8%
1 31-Dec-13 947,761 86,130 68,766 9.1%
4 30-Sep-13 897,528 87,400 80,306 9.7%
3 30-Jun-13 909,999 89,384 68,622 9.8%
2 31-Mar-13 882,061 65,585 54,611 7.4%
1 31-Dec-12 873,703 66,341 57,114 7.6%
4 30-Sep-12 868,363 64,476 73,599 7.4%
5 Years Trailing 4 Quarters
No. Financial ttm-Rev ttm-PBT  ttm-PAT ttm-PBT 
Qtr. Quarter (RM,000) (RM,000) (RM,000) Margin
3 30-Sep-17 4,101,599 386,030 353,318 9.4%
2 30-Sep-17 4,156,127 424,279 377,497 10.2%
1 30-Sep-17 4,162,555 415,103 360,988 10.0%
4 30-Sep-16 4,124,773 442,937 385,372 10.7%
3 30-Sep-16 4,156,086 458,958 392,507 11.0%
2 30-Sep-16 4,136,497 445,484 381,881 10.8%
1 30-Sep-16 4,077,215 424,426 361,801 10.4%
4 30-Sep-15 4,060,239 333,829 280,074 8.2%
3 30-Sep-15 4,016,941 341,462 285,545 8.5%
2 30-Sep-15 3,911,856 314,371 262,997 8.0%
1 30-Sep-15 3,907,366 310,583 260,598 7.9%
4 30-Sep-14 3,818,802 315,469 259,429 8.3%
3 30-Sep-14 3,751,815 327,508 277,540 8.7%
2 30-Sep-14 3,690,683 345,680 285,785 9.4%
1 30-Sep-14 3,637,349 328,499 272,305 9.0%
4 30-Sep-13 3,563,291 308,710 260,653 8.7%
3 30-Sep-13 3,534,126 285,786 253,946 8.1%
2 30-Sep-13 3,520,823 250,898 236,952 7.1%
1 30-Sep-13 3,369,191 243,009 289,398 7.2%
4 30-Sep-12 3,238,786 230,208 274,030 7.1%  
   
   
   
5 Years Adjusted EPS, DPS, NTA and ttm-EPS for capital changes    
No of shares (m) 367.0
adj adj adj adj adj
Qtr Financial EPS  DPS NTA ttm-EPS ttm-DPS
No Quarter (Cent) (Cent) (RM) (Cent) (Cent)
3 30-Jun-17 18.90 0.0 5.76 96.26 57.27
2 31-Mar-17 29.17 27.0 5.87 102.85 57.27
1 31-Dec-16 34.68 0.0 5.83 98.35 57.27
4 30-Sep-16 13.51 30.3 5.39 104.99 57.27
3 30-Jun-16 25.49 0.0 5.23 106.94 62.37
2 31-Mar-16 24.68 27.0 5.20 104.04 62.37
1 31-Dec-15 41.32 0.0 5.39 98.57 57.29
4 30-Sep-15 15.45 35.4 5.10 76.30 57.29
3 30-Jun-15 22.59 0.0 4.82 77.80 54.78
2 31-Mar-15 19.20 21.9 4.81 71.65 54.78
1 31-Dec-14 19.05 0.0 4.87 71.00 54.83
4 30-Sep-14 16.94 32.9 4.60 70.68 54.83
3 30-Jun-14 16.45 0.0 4.41 75.61 61.54
2 31-Mar-14 18.55 21.9 4.48 77.86 61.54
1 31-Dec-13 18.73 0.0 4.64 74.19 59.44
4 30-Sep-13 21.88 39.6 4.48 71.01 59.44
3 30-Jun-13 18.70 0.0 4.20 69.19 57.19
2 31-Mar-13 14.88 19.8 4.27 64.56 57.19
1 31-Dec-12 15.56 0.0 4.42 78.84 56.99
4 30-Sep-12 20.05 37.4 4.21 74.66 56.99
Capital changes
No. Financial No of
Qtr. Quarter Shrs (m)
3 30-Jun-17 367.0
2 31-Mar-17 366.7
1 31-Dec-16 365.7
4 30-Sep-16 364.6
3 30-Jun-16 366.9
2 31-Mar-16 366.7
1 31-Dec-15 366.3
4 30-Sep-15 366.0
3 30-Jun-15 365.3
2 31-Mar-15 365.2
1 31-Dec-14 366.2
4 30-Sep-14 365.9
3 30-Jun-14 365.9
2 31-Mar-14 366.1
1 31-Dec-13 363.8
4 30-Sep-13 363.4
3 30-Jun-13 363.1
2 31-Mar-13 364.1
1 31-Dec-12 363.8
4 30-Sep-12 360.8
3 30-Jun-12 361.0
2 31-Mar-12 360.5
1 31-Dec-11 359.9
4 30-Sep-11 359.0