F&N: 1Q earnings up 11.6%

Boosted by strong performance at its property business, Fraser & Neave posted an 11.6% jump in 1Q earnings on 9 February 2007, generating SGD 76.6 million in profit attributable to shareholders.
Befo…

Boosted by strong performance at its property business, Fraser & Neave posted an 11.6% jump in 1Q earnings on 9 February 2007, generating SGD 76.6 million in profit attributable to shareholders. Before exceptional items, net profit attributable to shareholders came to SGD 77.5 million, or a 14.5% year-on-year gain. For the three months ended December 2006, revenue rose 15.2% to SGD 1.1 billion. A large part of that came from its development property division, the group“s best-performing business. Revenue from the segment went up 55.1% to SGD 332.3 million. However, weak consumer sentiment hit soft drink sales, which fell 14.6% to SGD 116.3 million. Revenue from glass containers went up 14.5% to SGD 32 million. At its breweries, revenue contribution from subsidiary firm Asia Pacific Breweries (APB) grew 8%. With the exception of Malaysia and Thailand, all regions recorded volume growth. The group also benefited from a 5.4% gain in profits to SGD 2.6 million from its share in joint venture companies. Profits from shares in associated firms slipped 6.2% to SGD 5.1 million. Gross income from investments increased 12.8% to SGD 2 million. Net asset value came to SGD 3.17 per share. Earnings per share, after exceptionals, went up to SGD 0.065, from SGD 0.059.