F&N net profit down 21.4% in H2 as input, freight costs rise
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Singapore
BEVERAGE and publishing company Fraser and Neave (F&N) saw net profit decline 21.4 per cent to S$61.8 million for the 6 months ended Sep 30, despite a 3.1 per cent rise in revenue, it said in a results release on Friday (Nov 5).
Revenue for the second half was S$890.6 million, up from S$864.1 million in the year-ago period. But profit was hurt by unfavourable foreign currency translation, higher input and freight costs, and a lower share of profit from associated company Vietnam Dairy Products Joint Stock Company.
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