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.