F&N full-year net profit down 83%

SINGAPORE - Fraser and Neave (F&N) has posted a 82.9 per cent fall in net profit to S$108.1 million for the full-year ended Sept 30.

Excluding one-off gains from the disposal of discontinued operations that gave last year's earnings a boost, net profit would have been 72.9 per cent higher at S$109 million, on higher takings from the dairies business and reduced losses from printing and publishing.

Full-year revenue fell 6.7 per cent from a year ago to S$1.98 billion on lower contributions from the Malaysian beverages and dairies business, as well as the printing and publishing division.

Earnings per share for the full-year ended Sept 30 was 7.5 Singapor cents, up from 4.4 cents in the same period a year ago.

Net asset value per share was S$1.97 as at Sept 30, up from S$1.57 a year ago.

The group has recommended a final dividend of 3 cents, unchanged from a year ago.

Earnings were posted after market close. The counter rose one cent or 0.47 per cent to close at S$2.12 on Monday.

marilee@sph.com.sg