Malaysia“s Fraser & Neave Holdings Bhd has announced a group pre-tax profit of RM 69.8 million for the year ended 30 September 1996, an increase of 639% from RM 9.44 million recorded for the year end…
Malaysia“s Fraser & Neave Holdings Bhd has announced a group pre-tax profit of RM 69.8 million for the year ended 30 September 1996, an increase of 639% from RM 9.44 million recorded for the year ended 30 September 1995. Directors will be recommending a final dividend of 15 sen per share to be paid on 28 March 1997. Overall, directors expect improved earnings for the coming year which will benefit from a full twelve months“ contribution from the soft drinks and dairy operations compared with only seven months in the current year. The significant increase in group profit and turnover is due to the consolidation of the results of the soft drinks and dairy operations which were a result of acquisitions, said the group. In March, the group completed the acquisition of soft-drinks-based Fraser & Neave (Malaya) Sdn Bhd and dairy-based Four Eights Sdn Bhd. The group“s glass manufacturing operations were transferred to wholly owned subsidiary Malaya Glass Products Sdn Bhd. Accordingly, the group“s main activities have been enlarged to include the manufacture and sale of glass containers, soft drinks and dairy products.