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Fraser & Neave reports rise in net profit

Beverage company Fraser & Neave Ltd. said its net profit rose 17.7% on-year to SGD 225.7 million for the year ended 30 September, boosted by stronger earnings from the conglomerate“s soft drinks, bre…

Beverage company Fraser & Neave Ltd. said its net profit rose 17.7% on-year to SGD 225.7 million for the year ended 30 September, boosted by stronger earnings from the conglomerate“s soft drinks, brewery, and properties businesses. The company made a net profit of SGD 191.9 million a year ago. Multex Global Estimates had forecast a net profit of SGD 194 million for Fraser & Neave for the just-ended financial year. Revenue for the same period rose 10.8% to SGD 2.94 billion from SGD 2.65 billion last year and earnings per share was up to 75.6 Singapore cents from 64.3 Singapore cents a year ago. Fraser & Neave said although it would expect improved financial results for the current financial year in a normal business environment, the economic repercussions following the 11 September terrorist attacks on the US will “adversely affect consumer sentiment.” However, the company said it is not possible now to predict how deep such an impact may be on its business. Revenue from Fraser & Neave“s soft drink division rose to SGD 353.5 million from SGD 312.4 million a year ago, benefiting from the rationalization of the pricing structure and the shutdown of surplus manufacturing and distribution facilities, the group said.

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