F&N's full-year profits jump 24.4% to $153.19m

Its dairies segment accounted for most of its revenue.

Fraser and Neave (F&N) saw its profit jump 24.4% YoY to $153.19m in FY2019 from $123.11m in 2018, an SGX filing revealed. Revenue inched up 3.7% YoY to $1.9b from $1.83b over the same period.

The firm’s F&B division boosted its results. The overall beverages revenue of $470.7m was 6.5% higher as compared to last year. Earnings improved on the back of higher sales, lower sugar prices, and lower manufacturing overheads and marketing spend. Its profit before interest and taxation (PBIT) of $6.7m in FY2019 also rose.

As for its dairies segment, revenue rose 3.6% YoY to $1.15b over the same period. The growth in revenue was mainly attributed to Dairies Thailand as a result of successful execution of marketing and branding campaigns for both domestic and export markets.

On the other hand, F&N’s printing and publishing division had its revenue slip 0.6% YoY to $277.4m in FY2019 no thanks to the maiden contribution from Print Lab and the improvement in distribution
Sales.

The firm proposed a final dividend of 4 cents apiece, bringing the total full-year dividend to 5.5 cents.