Fraser and Neave (F&N), the food and beverage manufacturer and distributor owned by Thai Beverage, announced in a business update that its 9M20 earnings have dropped by 8.2% y-o-y to $118 million.

This beings earnings per share for 9M20 to 8.1 cents, down from 8.9 cents in 9M19.

The fall in earnings is in line with a 2.9% y-o-y decline in revenue to $1.4 billion, which is mainly due to the adverse impacts of the Covid-19 pandemic and flooding in East Malaysia.

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