KUALA LUMPUR: Fraser and Neave Holdings Bhd’s (F&N) net profit for the third quarter ended June 30, 2018 rose to RM104.48 million from RM69.52 million recorded in the same period last year.
Revenue, however, fell to RM1.02 billion from RM1.04 billion registered previously due to lower contribution from its Thai operations, it said in a filing with Bursa Malaysia today.
Operating profit for both countries improved due to favourable input and packaging material costs for the quarter.
The company said operating profit for the food and beverage business in Malaysia improved significantly by 102.8 per cent to RM49.1 million while operating profit for the food and beverage business in Thailand rose 11.4 per cent to RM57.4 million.
It said operational cost savings and lower overheads also contributed to better operating profit for the food and beverage business in Malaysia.
For the nine-month period, F&N's net profit increased slightly to RM303.86 million from RM303.71 million registered in the same period last year while revenue declined marginally to RM3.11 billion from RM3.12 billion previously.
On prospects, it said operational cost savings from the transformation initiatives and efficiency through process improvement was expected to contribute positively to the Malaysian operations in the coming quarters.
It said the company would also continue to leverage on innovations to deliver new and unique product offerings while focusing on meeting consumers’ evolving needs towards healthier beverage choices, convenience and affordability.