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F&N reports earnings of $122.2 mil for FY18; plans 3-cent final dividend

Chan Chao Peh
Chan Chao Peh11/9/2018 06:11 PM GMT+08  • 2 min read
F&N reports earnings of $122.2 mil for FY18; plans 3-cent final dividend
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,
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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”.

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