The lower earnings were due to higher raw material and energy costs, as well as an exceptional charge of $7.8 million. The charge was due to the impairment of inventories and property, plant and equipment caused by flash floods in Malaysia earlier in the FY.
Food and beverage (F&B) manufacturer Fraser and Neave (F&N), an associate of Thai Beverage (ThaiBev), has reported earnings of $68.5 million for the 1HFY2022 ended March.
The half-year period’s earnings stood 17.9% lower than the earnings of $83.4 million in the corresponding period the year before.
