Sunday, February 12, 2012

F&N earnings down 23% in first quarter

Straits Times: Fri, Feb 10
A FALL in sales of soft drinks and dairy products sent first-quarter earnings plunging 23 per cent at Fraser and Neave (F&N).

Net profit was $177.1 million while revenue for the three months to Dec 31 fell 11 per cent to $1.36 billion compared with the same period the year before.

Soft drink sales fell 18 per cent to $162.7 million as the quarter marked a new start for its soft drink segment after its agreement with The Coca-Cola Company came to an end...

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