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Vinamilk to drive over 40% of F&N's FY18 earnings: Phillip Capital

Michelle Zhu
Michelle Zhu11/13/2017 12:25 PM GMT+08  • 2 min read
Vinamilk to drive over 40% of F&N's FY18 earnings: Phillip Capital
SINGAPORE (Nov 13): Phillip Capital has upgraded its call on Fraser and Neave (F&N) from “neutral” to “accumulate” with a higher target price of $2.83 from $2.52 previously.
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SINGAPORE (Nov 13): Phillip Capital has upgraded its call on Fraser and Neave (F&N) from “neutral” to “accumulate” with a higher target price of $2.83 from $2.52 previously.

In a Monday report, analyst Soh Lin Sin observes that F&N has been gaining a stronger foothold in Vietnam via Vinamilk as a Vietnam Dairy Products joint stock company.

At the same time, she highlights how the Dairies segment continued to deliver strong growth over FY17, underpinned by a strong performance in Dairies Thailand as well as a significant increase in contributions from Vinamilk.


See: F&N's FY17 earnings soar to $1.3 bil on fair value adjustment and exceptional items

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