Thursday , June 24 2021

F & N posts higher net profit Q4 – Business news

KUALA LUMPUR: Fraser & Neave Holdings Bhd (F & N) made bigger profits in the last quarter of the year, ending on September 30, boosted by cheaper sugar prices and lower costs.

Net profit in the last quarter rose to $ 81.8 million, or 22.2 percent of the share on revenue of HRK 99 million. It raised the full year earnings on RM385mil compared to RM323mil made a year ago.

The company proposed a dividend payout of 30.5 per share.

"Cost synergies and lower overhead costs in Malaysia's operations, cost-effective investment costs, higher export revenues and lower restructuring costs and other disposable products, compared to the previous year, contributed to double-digit growth in profit in the first eight months," F & N. said today. statement.

The tea ice cream maker with condensed milk tea and 100 pll of isotonic beverage, however, warned that domestic markets in Malaysia and Thailand would be expected to remain challenging with continued competitive price pressures and increased competition, as well as the volatility of foreign currency movements and commodity prices.

"Moving forward, we will continue to focus on ensuring continued and sustainable growth in our three pillars – F & B Malaysia, F & B Thailand and exports," said President Tengku Syed Badarudin Jamalullail.

In order to mitigate the risk of variable cost of entry, F & N partially hedged its core merchandise requirements for the next financial year with the appropriate currency exposure.

"In Malaysia, we will evaluate and closely monitor the effect of imposing excise duty at $ 40 per liter on beverages that are ready for drinking with sugar exceeding 5 grams per 100 milliliters, starting on April 1, 2019, April 2019, as announced during a recent presentation Budget 2019, including taking appropriate measures as needed, "said Lim Yew Hoe, Executive Director.

"In Thailand, next year, we will start paying taxes on profits once we use promotional incentives from the Investment Department and transfer losses from non-produced companies."

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