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Thursday, November 7, 2019

F&N expects new products to contribute positively to its earnings growth

CORPORATE NEWS
Wednesday, 06 Nov 20191:06 PM MYT

By Eugene Mahalingam

KUALA LUMPUR: FRASER & NEAVE HOLDINGS BHD
image: https://cdn.thestar.com.my/Themes/img/chart.png (F&N) expects new products to contribute a third of the company’s earnings growth in its current financial year ending September 2020 (FY20).

Chief executive officer Lim Yew Hoe said the company has already launched three new products in the first quarter of its current financial year.

“We need to be aggressive as the customer demands it and will be offering more products by the end of the first half of our current financial year, ” he said at a media briefing today.

F&N saw its net profit falling 17.7% to RM68.03mil in its fourth quarter ended Sept 30 from RM82.65mil in the previous corresponding period.

However, for the full year, the company’s net profit grew 6.1% to RM410.26mil from RM386.55mil in the financial year 2018.

F&N declared a final dividend of 33 sen per share, bringing the total for FY19 to 60 sen per share.

Group revenue grew 5.3% to RM4.08bil in FY19 from RM3.87bil in FY18, while group pre-tax profit grew 25.7% to RM533mil from RM424.1mil in the previous year, mainly attributable to higher revenue and profit contribution from Food & Beverages Thailand.

Read more at https://www.thestar.com.my/business/business-news/2019/11/06/fn-expects-new-products-to-contribute-positively-to-its-earnings-growth#Ew48VztC4mfc2QqD.99

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