1HFY2023 revenue grew by 3.5% y-o-y to $1.05 billion with food & beverage (F&B) and publishing & printing (P&P) segments contributing to the growth. Excluding foreign exchange (forex), F&N’s revenue grew by 9% y-o-y driven by growth across all of its business segments. F&B’s topline grew “marginally” due to the unfavourable forex translation. In constant currency terms, F&B’s topline was up by 6% y-o-y due to higher selling prices, higher beer and soft drinks volumes on the successful execution of festive campaigns and new product launches. Improved canned milk sales in Malaysia and Thailand also improved during the six-month period.
Fraser and Neave (F&N) (SGX:F99
) has reported earnings of $55.0 million for the 1HFY2023 ended March 31, 19.8% than the earnings of $68.5 million in the corresponding period the year before.
Earnings per share (EPS) for the period stood at 3.8 cents on a fully diluted basis before exceptional items and at 4.8 cents after exceptional items.
