Fraser and Neave (F&N)

ThaiBev, through its indirect wholly-owned subsidiary InterBev Investment (IBIL), has proposed a share swap with TCC Assets.

The lease agreement was entered into for the group to set up a manufacturing facility for dairy products in Cambodia.

Profit before interest and tax for 1QFY2024 was up 41.9% y-o-y to $80.6 million.

The group has proposed a final dividend of 4.0 cents per share, bringing the full-year dividend to 5.5 cents.

Despite revenue recovering and showing growth, F&N's earnings are down for the FY2022 period due to higher costs.

CEO Hui Choon Kit calls 2022 "a confluence of several challenges".

F&N posts 1.0% growth in 9M to $119.1 million.

CGS-CIMB believes that lower earnings before interest, tax, depreciation and amortisation (Ebitda) recorded by Fraser and Neave (F&N) and Frasers Property in the same period may indicate lower earnings registered by both associate companies.

Covid-19 causes F&N to spill earnings

Although F&N says its distribution logistics across the markets it operates in remain largely intact and unaffected by Covid-19 disruptions, the group is bracing for weaker consumer demand in its beverage and dairies operations in 2HFY2020.