F&N Q4 profit jumps four­fold

The Sun (Malaysia) - - SUNBIZ -

PETAL­ING JAYA: Fraser & Neave Hold­ings Bhd’s (F&N) net profit for the fourth quar­ter ended Sept 30 quadru­pled to RM81.2 mil­lion from RM19.6 mil­lion a year ago at­trib­uted to higher con­tri­bu­tion from both F&B Malaysia and F&B Thai­land.

Its rev­enue for the quar­ter also in­creased by 2.1% to RM996.6 mil­lion from RM976.3 mil­lion in the pre­vi­ous cor­re­spond­ing quar­ter.

F&N’s full-year net profit grew 19.1% to RM385.1 mil­lion against RM323.4 mil­lion a year ear­lier, while rev­enue grew marginally by 0.2% to RM4.11 bil­lion from RM4.1 bil­lion pre­vi­ously.

On prospects, the group said it ex­pects the over­all do­mes­tic mar­ket for both Malaysia and Thai­land to re­main chal­leng­ing with con­tin­u­ing com­pet­i­tive price pres­sures and in­ten­si­fy­ing com­pe­ti­tion as well as volatil­ity in for­eign cur­rency move­ments and com­mod­ity prices.

It has par­tially hedged its core com­mod­ity re­quire­ments for the next fi­nan­cial year along with the cor­re­spond­ing for­eign cur­rency ex­po­sure wher­ever pos­si­ble.

In Malaysia, F&N said its man­age­ment will as­sess and closely mon­i­tor the im­pact of the im­po­si­tion of ex­cise duty at 40 sen per litre on ready-to-drink bev­er­ages that con­tain sugar ex­ceed­ing five grams per 100 millil­itres, start­ing April 1, 2019 as an­nounced in Bud­get 2019, in­clud­ing tak­ing ap­pro­pri­ate ac­tions as nec­es­sary.

Mean­while, it said F&B Thai­land is ex­pected to com­mence pay­ing cor­po­rate taxes next year after the util­i­sa­tion of the car­ried for­ward losses from non-pro­moted busi­nesses.

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