Beerless F&N less stout in Q1, but dairy finds whey to grow
Net profit drops 26.9% for Q1, but continuing operations see 33.9% leap in earnings
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FRASER and Neave's (F&N) net profit fell 26.9 per cent in its fiscal first quarter following the sale of its Myanmar brewery, but a hearty dairy business helped continuing operations to post a 33.9 per cent jump in earnings, the drinks company said on Wednesday.
Net earnings for the three months ended December 2015 fell to S$25.7 million, or 1.8 Singapore cents per share. F&N shares closed at S$1.96 on Wednesday before the results were announced.
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