SINGAPORE – Fraser & Neave (F&N) reported an 18.8% rise in its first-quarter profit, driven primarily by strong sales in its food and beverage segment. The quarter, which ended on Dec 31, saw increased demand for soft drinks and beer, the company announced on Feb 7.
Soft drink sales were a key driver of growth, supported by a favorable sales mix and higher volumes in the lead-up to Chinese New Year. The company attributed a 38% profit increase in this segment to robust demand, particularly for its 100 Plus and F&N carbonated beverages. The launch of new products, including F&N Sparkling Zero in three flavors, limited-edition gold cans, and festive packs, further boosted sales.
Beer sales more than doubled during the quarter, primarily due to the performance of its Tapper brand in Myanmar. Tapper was introduced in June 2024 and has since gained traction in the market.
F&N’s dairy business also saw growth across all core markets, driven by rising domestic and export demand in Indochina. The segment expanded by 19%.
However, the company’s printing and publishing division faced a decline in revenue, which F&N attributed to lower licensing income in Latin America and the absence of one-off title rights sales in Hong Kong in 2024.
For the quarter, F&N recorded a net profit of $52 million, up from $43.8 million in the previous year. Revenue increased by 16.3% to $618 million, compared with $531.6 million a year earlier.
Earnings per share rose by 20% to 3.6 cents, up from 3 cents in the prior-year period.
F&N’s stock closed 1.6% higher at $1.29 on Feb 7.
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