SINGAPORE (Aug 8): Fraser and Neave reported 60% rise in earnings before exceptional items to $60.7 million for 3Q17 from $38 million a year ago.
Including exceptional items of $1.2 billion, which arose largely from the realisation of fair value reserves upon change of interests in Vinamilk, group 3Q17 earnings soared to $1.3 billion, from $38.6 million.
On Dec 21 2016, the group completed its acquisition of additional shares representing 5.4% stakes in Vinamilk through a competitive bid process. Through further purchases from the market, the group continued to increase its stake in Vinamilk. Today, the group has a 18.74% stake in Vinamilk.