F&N's Q1 2021 earnings up 13.7% to S$45.1m

businesstimes2021-02-04

BEVERAGE maker F&N saw its net profit rise 13.7 per cent to S$45.1 million for the first quarter ended Dec 31 (before exceptional items), on the back of improved savings generated from cost-cutting ...

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Ming83
2021-02-08
Ming83
$
Vendetta88
2021-02-07
Vendetta88
Wow
andrewtingg
2021-02-07
andrewtingg
CNY their business will be very good as ppl stock their house for visitors!
hitithard
2021-02-05
hitithard
Go f and n. Go f and b. Cheong
vbjvvbb
2021-02-05
vbjvvbb
Wo
dessyag
2021-02-05
dessyag
banking on cny sales

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It said: \"Subdued trade sentiments in Malaysia impeded recovery for its soft drinks segment, but was cushioned by strong canned milk sales to the Middle East and Africa.\"\nSoft drink sales declined due to the impact of the earlier timing of Chinese New Year last year amid the pandemic, but beverage revenue was lifted by strong beer sales in Emerald Brewery.\nFactors impacting its P&P segment include the cancellation or deferment of print orders, border closures and dampened consumer sentiments, F&N noted.\nMeanwhile, revenue from F&N's dairies segment was flat, it said. \"While Dairies Malaysia recorded strong growth on higher export, Dairies Thailand's revenue declined on unfavourable translation impact,\" F&N added. Thailand was hit by lower domestic volume as a result of the pandemic, as well as unfavourable currency translation effect.\nDairies Singapore revenue was affected by the pandemic, where general trade and food services' sales were impacted by reduced footfall and outlet closures.\nNevertheless, the mainboard-listed firm posted a 7 per cent increase in its profit before interest and tax (PBIT), as beverage earnings increased by over twofold. PBIT grew to S$81.5 million, up from S$76.3 million for the corresponding period a year ago.\nThis was driven by improved profitability in Emerald Brewery, and favourable packaging costs and lower advertising and promotions (A&P )in soft drinks, it said.\nThailand and Vietnam remained top profit contributors for the company. However, Malaysia's contribution fell to 18 per cent, down from 20 per cent a year ago, as a result of lower sales and higher commodity prices. This was despite boosts from lower packaging costs, A&P spending and operating costs.\nF&N's earnings per share was 3.1 Singapore cents, versus 2.7 cents a year ago.\nAs at end-December, F&N had S$377.9 million in cash and S$836.6 million in bank borrowings, creating a gearing ratio of 13.6 per cent.\nThe group said it is building a new growth pillar through strengthening its halal position, which it hopes will complement F&N's current product offering to consumers.\nIt acquired Sri Nona Group of Companies - Sri Nona Food Industries Sdn Bhd, Sri Nona Industries Sdn Bhd and Lee Shun Hing Sauce Industries Sdn Bhd - for a cash consideration of up to RM60 million (S$19.9 million). As of Jan 2021, it had a 55.5 per cent effective interest in Sri Nona.\n\"Combined distribution network and strong R&D capabilities enhance the group's position in the halal food and beverage industry,\" it said.\nShares in F&N closed flat at S$1.40 on Thursday.","kind":null,"is_publish_news":false,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":389187791,"gmtCreate":1612735719713,"gmtModify":1703764453133,"author":{"id":"3566819412630327","authorId":"3566819412630327","name":"Ming83","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"$","listText":"$","text":"$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389187791","repostId":2108719145,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":389946016,"gmtCreate":1612672642635,"gmtModify":1703764223742,"author":{"id":"3575640164891879","authorId":"3575640164891879","name":"Vendetta88","avatar":"https://static.tigerbbs.com/ad311e5cc5112bcfd9e2759609ed8142","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389946016","repostId":2108719145,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":389927442,"gmtCreate":1612669493086,"gmtModify":1703764203598,"author":{"id":"3569548778635529","authorId":"3569548778635529","name":"andrewtingg","avatar":"https://static.tigerbbs.com/7d5e307692b89ed5e1743db3eef62fe5","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"CNY their business will be very good as ppl stock their house for visitors!&nbsp;","listText":"CNY their business will be very good as ppl stock their house for visitors!&nbsp;","text":"CNY their business will be very good as ppl stock their house for visitors!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/389927442","repostId":2108719145,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":380097380,"gmtCreate":1612490810040,"gmtModify":1703762621731,"author":{"id":"3570063321997588","authorId":"3570063321997588","name":"hitithard","avatar":"https://static.tigerbbs.com/309ce7b357018aa7b946332c2fe8725c","vip":1,"crmLevel":8,"crmLevelSwitch":0},"htmlText":"Go f and n. Go f and b. Cheong","listText":"Go f and n. Go f and b. Cheong","text":"Go f and n. Go f and b. Cheong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380097380","repostId":2108719145,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":380094462,"gmtCreate":1612490784056,"gmtModify":1703762621386,"author":{"id":"3554803619527377","authorId":"3554803619527377","name":"vbjvvbb","avatar":"https://static.tigerbbs.com/8fb1b38f4354ec237a7cab99dbd46e94","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Wo","listText":"Wo","text":"Wo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380094462","repostId":2108719145,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":380099584,"gmtCreate":1612490396248,"gmtModify":1703762610877,"author":{"id":"3574597457129986","authorId":"3574597457129986","name":"dessyag","avatar":"https://static.tigerbbs.com/b12eaa6588dc6f5c33db538d6fe96d26","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"banking on cny sales","listText":"banking on cny sales","text":"banking on cny sales","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/380099584","repostId":2108719145,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":85,"commentSize":76,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.25.1","shortVersion":"4.25.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2108719145"}