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Fraser and Neave posts 67% fall in 2Q earnings to $3.8 mil

PC Lee
PC Lee5/8/2017 07:36 PM GMT+08  • 2 min read
Fraser and Neave posts 67% fall in 2Q earnings to $3.8 mil
SINGAPORE (May 8): Fraser and Neave, the group with interests from beer and beverages to publishing and printing, reported a 67% fall in 2Q earnings to $3.8 million from a year ago.
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SINGAPORE (May 8): Fraser and Neave, the group with interests from beer and beverages to publishing and printing, reported a 67% fall in 2Q earnings to $3.8 million from a year ago.

This was due to higher finance cost due to borrowings to finance the acquisition of Vinamilk shares, weaker Beverages and concentrate sales and higher marketing expenses.

Revenue for the quarter fell 5.8% to $451.3 million, arising largely from weak consumer sentiment and the absence of contribution from Chinese New Year sales.

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