Source: Fraser & Neave Holdings Bhd
Fraser & Neave Holdings Bhd is pleased to release the quarterly financial report for the quarter and nine months ended 30th June 2010.
Operations review
Current Quarter vs Corresponding Quarter last year
Group revenue increased 7% to RM893 million mainly driven by strong volume growth in soft drinks.
August 5 2010 - Soft drinks revenue improved 26% with all main product portfolios registering commendable volume growth on the back of strong promotional activities around some major sport events such as the Thomas Cup and the FIFA World Cup. Revenue of dairies division declined by 3% affected by lower exports for both Malaysia and Thailand operations. Property revenue was lower due to completion of Fraser Business Park – Phase II.
Group operating profit for the quarter improved 17% mainly due to volume growth of soft drinks which was partly offset by higher raw material prices of the dairies division.
Group profit after taxation for the quarter of RM72 million was 35% above the same quarter last year. Group effective tax rate declined to 20% from 29% previously, benefitting from the tax incentives secured last year in respect of the new dairy plant investment in Rojana, Thailand. Group attributable profit of RM72 million for the quarter has consolidated the full results of the soft drinks business and was 41% higher than last year.
YTD 9 months vs Corresponding period last year
For the 9 months to June 2010, Group revenue recorded a 7% growth to RM2.6 billion. This was contributed by soft drinks division’s higher growth of 19% and improved sales in Dairies Thailand in the first half but offset by lower revenue in property division as the construction work for Fraser Business Park ends.
Group operating profit rose 29% to RM291 million due to strong performance of the soft drinks division and improved domestic margins of the dairies division. Group PAT of RM227 million was 40% above last year and benefitted from tax incentives enjoyed in Thailand. Group attributable profit was up 48% compared with last year, contributed by higher PAT and full consolidation of the results of the soft drinks division.
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Fraser & Neave Holdings Bhd
Address: F&N Point, No. 3, Jalan Metro Pudu 1, Off Jalan Yew, 55200 Kuala Lumpur, Malaysia
Telephone: +603 - 9235 2288
Fax: +603 - 9222 7878
About Fraser & Neave Holdings Bhd
F&N is amongst the region’s and Malaysia’s oldest companies and its brand enjoys the rare distinction of being a market leader and household name in many categories. A well loved brand in Malaysia, today, F&N has spread its wings to more than 20 countries worldwide and established itself as a regional player. In Malaysia, F&N operates under the banner of Fraser & Neave Holdings Bhd (F&NHB), which is the Malaysian arm of Fraser And Neave, Limited. The company is listed on Bursa Malaysia and employs nearly 5,000 employees in operations across Malaysia, Thailand, China and Vietnam. Its vision is to become the leading total Food and Beverage Company in Malaysia and the region.