F&N posts 12% drop in first-quarter earnings to S$22.4m

Singapore

WITH higher operating expenses outweighing revenue gains, Fraser and Neave Limited (F&N) posted a 12.1 per cent drop in net profit for the first quarter ended Dec 31, 2016 to S$22.44 million.

Revenue for the quarter rose 0.2 per cent to S$495 million, as an overall revenue increase in the beverages and dairies segments made up for the drop in print and publishing and others.