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Fraser & Neave: glass packaging sector boosts group results

Malaysia“s Fraser & Neave Holdings Bhd (F&N) reported a pre-tax profit of RM 51.1 million for the nine months ended 30 June 2000, reversing a loss of RM 4 1.7 million suffered in the same period a ye…

Malaysia“s Fraser & Neave Holdings Bhd (F&N) reported a pre-tax profit of RM 51.1 million for the nine months ended 30 June 2000, reversing a loss of RM 4 1.7 million suffered in the same period a year earlier. Turnover was up 18.3% to over RM 1 billion from RM 845.8 million. For the third quarter, F&N“s pre-tax profit improved to RM 20.3 million from RM 19.8 million in the same period previously, while turnover was up 5.7% to RM 354 million. All core businesses, including soft drinks, dairy products and glass packaging, reported improved results. Soft drink subsidiary, F&N Coca-Cola (M) Sdn Bhd, staged the most spectacular recovery, contributing a pre-tax profit of RM 16.7 million on a turnover of RM 492 million, thus reversing accumulated beverage sector loss of RM 68 million on a turnover of just under RM 379 million in the previous year“s third quarter. F&N Dairies also staged a strong recovery to add almost RM 17.5 million to group pre-tax profit on a turnover of RM 372 million, it added. The glass packaging sector meanwhile contributed RM 15.1 million to the group“s result on a turnover of RM 137 million.

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