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Fraser and Neave 3Q earnings soar to $1.2 bil on realisation of fair value reserves from Vinamilk stake change

PC Lee
PC Lee8/8/2017 06:29 PM GMT+08  • 2 min read
Fraser and Neave 3Q earnings soar to $1.2 bil on realisation of fair value reserves from Vinamilk stake change
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.
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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.

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