Fraser & Neave Holdings Bhd (F&N) posted a net profit of MYR 53.28 million in the 2Q ended 31 March 2009 (2Q FY 2009), up 11.2% from MYR 47.91 million a year ago.
It said on 4 May 2009 that revenue r…
Fraser & Neave Holdings Bhd (F&N) posted a net profit of MYR 53.28 million in the 2Q ended 31 March 2009 (2Q FY 2009), up 11.2% from MYR 47.91 million a year ago. It said on 4 May 2009 that revenue rose marginally to MYR 913.81 million from MYR 907.68 million. It declared a gross dividend of MYR 0.17 per share (net MYR 0.1275). Earnings per share were MYR 0.15 compared with MYR 0.13.4. F&N said the group benefited from lower input costs. Group operating profit before extraordinary items rose 26% from a year ago. “After accounting for the one-time charge of MYR 10 million due to the closure of the glass furnace in Petaling Jaya, operating profit still registered an improvement of 12% over last year,” the company said. F&N said for the 1H, net profit rose 12.7% to MYR 104.23 million versus MYR 92.45 million a year ago while revenue rose 1.3% to MYR 1.83 billion from MYR 1.81 billion. F&N chief executive officer Tan Ang Meng said the higher operating profit of MYR 158.5 million versus MYR 141 million a year ago was due to higher soft drinks and glass revenue which were partially offset by lower exports of dairy products. For the 2H 2009, he said the lower commodity prices and government stimulus packages to boost spending as positive factors.