Disposal gain lifts F&N full-year profit to $5.4b

FRASER and Neave posted full-year net profit of $5.4 billion compared with $837.5 million last year, thanks to a $4.8 billion gain it made from disposing its discontinued operations.

Earnings per share for the full year ended Sept 30, 2013 were 376.8 cents, compared with 59 cents last year. Excluding the disposal gain, EPS was 37.8 cents, compared with 33.2 cents last year.

Net profit from continuing operations was $545.3 million, 70.3 per cent higher than last year's $320.1 million. Revenue grew 22 per cent to $4.3 billion.