F&N posts a surge in third quarter profit

A file picture of bottles of F&N (Fraser & Neave) aerated or soft drinks. PHOTO: BLOOMBERG
A file picture of bottles of F&N (Fraser & Neave) aerated or soft drinks. PHOTO: BLOOMBERG

SINGAPORE - Beverage firm Fraser and Neave (F&N) posted improved third-quarter results owing to a higher stake in a Vietnamese dairy firm.

Net profit soared 59.9 per cent to $60.7 million for the three months to June 30 before exceptional items, the firm reported on Tuesday (Aug 8).

Quarterly revenue slid 8.6 per cent to $483 million.

Quarterly earnings per share was 4.2 cents, compared with 2.6 cents a year earlier, before exceptional items.

Net asset value per share was $1.98 as at June 30, compared with $1.97 as at Sept 30.