F&N full-year profit surges on Myanmar disposal gain
F&N on Friday said full-year net profit rose several times on the back of a disposal gain.
Net profit for the 12 months ended September 30, 2015, stood at S$633 million, against S$147 million a year ago.
In August, the group completed the sale of its 55 per cent stake in Myanmar Brewery Limited to Myanma Economic Holdings Limited for US$560 million, and realised a net divestment gain of S$542 million.
Revenue inched up 0.5 per cent over the year to S$2.1 billion.
The board of directors has recommended a final dividend of 3 Singapore cents per share. Together with the interim dividend of 2 Singapore cents, the total dividend for the year is 5 cents, unchanged from a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly