SINGAPORE (Nov 9): Beverage giant Fraser and Neave has reported earnings of $ 122.2 million for FY ended Sept 30 2018. In the prior year, earnings of $1.28 billion was lifted by one-off fair-value gain recognition of its share of a joint venture business, Vinamilk, which amounted to $1.2 billion. For FY18, earnings before exceptional items was $121.7 million, up 26% y-o-y.

For FY2018, F&N’s generated revenue of over $1.9 billion, up 2% y-o-y. The company enjoyed strong dairy sales. It also enjoyed favourable foreign exchange gains. However, weaker sales of soft drinks negated the revenue growth.
Koh Poh Tiong, chairman of the F&N’s board executive committee, calls the FY18 results “creditable”.

“Increasing input costs, declining consumer confidence as well as evolving consumer preference and behaviour continued to impact the businesses this year,” he adds.

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