Conglomerate Fraser and Neave (F&N) has posted a 13.9 per cent on-year increase in net profit to S$132.7 million for the third quarter ended June.
Revenue for the three months rose 7.6 per cent to S$1.4 billion.
F&N said its property arm registered higher earnings due to strong rental income, recognition of pre-sold projects and recovery in its core residential markets.
Its soft drinks, dairies and breweries segments were also boosted by higher revenue mainly due to higher sales volume.
The group said the economic recovery in Asia Pacific core markets it operates in has been strong, benefiting its market positions there.
Barring any unforeseen circumstances, F&N expects its attributable profit on continuing operations to be higher than that of the previous year.
Source : Channel NewsAsia – 13 Aug 2010