Absence of one-off gain hits F&N's Q3

Singapore

HIGHER input costs and last year's exceptional gain of S$1.2 billion that resulted from the group's enlarged control of Vietnam Dairy Products Joint Stock Co (Vinamilk), the largest dairy company in Vietnam, weighed down results for Fraser and Neave (F&N) in its third quarter.

Net profit for the beverage cum printing and publishing company sank 96 per cent to S$50.3 million from the preceding year, the group said on Tuesday. Excluding fair value reserves and exceptional items, the group's net profit would have declined a milder 12 per cent, t…