Fraser and Neave today reported revenue of $1.46 billion for the first quarter ended 31 December 2009, an increase of 17% from the same period last year.

Profit after taxation grew 58% to $187.7 million from $118.5 million.

F&N says growth was broad‐based, with the key businesses of Food & Beverage (Soft Drinks, Dairies and Breweries) and Properties registering higher revenue.

Consequently, profit before interest, taxation, revaluation adjustment and exceptional items (PBIT) for this period also expanded strongly by 53% to $267 million.

Riding on its geographical reach and the strength of its brand portfolio, the company says F&B maintained its growth momentum during the quarter, posting 55% growth in PBIT, to $123 million.

Properties, buoyed by pre‐sold residential developments, also benefitted from higher rental and occupancy rates. Properties’ profit surged 73% to $130 million.

Group’s earnings per share for the quarter nearly doubled to 9.7 cents, and net asset value per share also improved to $4.07.