FRASER & Neave Holdings Bhd (F&N) continues to impress with its sturdy efficiency within the third quarter of 2023 (3Q23), posting a internet revenue of RM99.37 million, surpassing final yr’s determine of RM97.5 million.
The expansion might be attributed to greater income, with quarterly gross sales reaching RM1.33 billion in comparison with RM1.12 billion within the earlier yr.
The income enhance was pushed by strong festive gross sales, a powerful efficiency within the F&B Malaysia and F&B Thailand home markets, restoration in export markets, and the constructive affect of Cocoaland Trade Sdn Bhd’s contribution.
The corporate’s earnings per share additionally noticed a wholesome enhance, reaching 27.1 sen in comparison with 26.6 sen in the identical quarter of the earlier yr.
F&N’s working revenue for the third quarter grew by a formidable 12.6%, reaching RM125.9 million from RM111.8 million final yr.
This progress was supported by greater costs, efficient margin and value administration, contributions from Cocoaland, and partially offset by one-off non-operating gadgets.
Excluding the one-off non-operating merchandise, F&N’s group working revenue witnessed substantial progress of 59.2%.
Inside its segments, F&B Malaysia recorded vital income progress of 19.5% to RM748.8 million, pushed by elevated gross sales in each home and export markets, greater festive gross sales, and the constructive affect of Cocoaland’s addition.
Equally, F&B Thailand noticed its income rise by 18.8% to RM582.1 million, due to a restoration in exports and better home gross sales.
The implementation of low cost administration measures and better costs additionally contributed to the advance in income.
Over the cumulative nine-month interval, F&N achieved a internet revenue of RM399.34 million, marking a considerable enhance from RM284.32 million within the earlier yr.
Income for a similar interval rose to RM3.76 billion from RM3.33 billion. This constant progress underscores the corporate’s resilience and strategic positioning within the aggressive F&B business.
Trying forward, F&N maintains a cautiously optimistic stance given the volatility in commodity costs, international alternate charges, and inflationary pressures on prices and client demand.
F&N mentioned it faces ongoing challenges in commodity costs for tin plates and cans, uncooked milk, palm oil and sugar.
F&N marks its a hundred and fortieth anniversary with a give attention to sustainable progress, together with a strategic transfer into the contemporary milk sector via a groundbreaking ceremony for an built-in dairy farm in Malaysia. – TMR / pic TMR FILE
- This text first appeared in The Malaysian Reserve weekly print version