Fraser & Neave 2009 H1 profit falls 17% on-year to S$158m

Diversified Fraser and Neave (F&N) says its first half profit fell 17 per cent on-year to about S$158 million.

Revenue in the same period ending March 31 fell about four per cent to S$2.4 billion.

But the company faired a bit better in the second quarter, where profit rose four per cent to S$90 million.

The firm says this is due to strong contributions from its food and beverage and commercial property businesses. And this helped to offset the lower print volumes from its printing and publishing division.

Still, chairman Lee Hsien Yang says the results are “healthy”, adding that F&N’s mix of different businesses helped it deliver such figures despite the severe economic conditions.

He adds that the results were achieved through a combination of effective sales and marketing efforts, tight cost control, and a reduction in input costs.

Moving forward, Mr Lee says F&N will continue to leverage on its financial strengths to expand its regional leadership across its businesses and geographies.

The directors have declared an interim dividend of three cents per share.

Source : Channel NewsAsia – 8 May 2009

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