F&N full-year earnings slip on lack of profit from discontinued operations

NET profit for beverage group Fraser and Neave (F&N) in its full financial year fell 5.6 per cent to S$109.0 million from the year-ago period, the group said in a Singapore Exchange filing on Monday evening.

It did not report fourth-quarter figures.

For the 12 months ended Sept 30, revenue dropped 6.7 per cent to S$1.98 billion from the previous year.

Its bottomline slid mainly due to absence of profit from discontinued operations. FY 2016 earnings per share came in at 7.5 Singapore cents, down from 43.7 Singapore cents including discontinued operations in the year-ago period.

Net asset value per share expanded to S$1.97 as at Sept 30, from S$1.57 a year ago.

F&N shares finished S$0.01 or 0.5 per cent higher at S$2.12 on Monday.