Mainboard-listed Fraser and Neave (F&N) has posted revenue of $1.61 billion, up 2.1% y-o-y, for the nine months ended June 30.
Gross profit rose 14.0% y-o-y to $524.8 million during the 9MFY2024 period, while profit before interest and tax rose 35.45% y-o-y to $238.7 million.
Profit after tax rose 19.1% y-o-y to $181.0 million in 9MFY2024, while profit attributable to shareholders rose 37.3% y-o-y to $123.0 million.
Earnings per share during the period rose 35.5% y-o-y to 8.4 cents.
By geography, Singapore revenue stayed flat at 20% of total revenue and was boosted by higher soft drinks and dairies.
Thailand’s revenue, flat at 31%, grew in absolute terms due to favourable sales mix and increased domestic and Indochina volumes.
See also: Fraser & Neave's 1HFY2024 earnings jump despite flattish revenue thanks to lower costs
Malaysia’s revenue was impacted by a weaker ringgit In constant currency terms, falling from 40% of total revenue to 39%. That said, absolute revenue rose 4% y-o-y, driven by higher contribution from the food segment and increased soft drinks volume.
F&N has reported total assets of $5.07 billion and total liabilities of $1.74 billion.
The group’s gearing has fallen to 19.8% as at June 30 compared to 20.6% at the end FY2023, or Sept 30, 2023. 82% of its debt is on fixed rates, while 18% are on floating rates.
The group has $490.5 million in cash and $1.15 billion in borrowings as at June 30. $198.0 million of loans are maturing within a year.
Shares in F&N closed 3 cents higher, or 2.66% up, at $1.16 on Aug 6.
