FY2024 revenue rose by 3% y-o-y to $2.16 billion as revenue from F&N’s beverages and dairies segments rose, offsetting the revenue decline in printing and publishing. On a constant currency basis, FY2024 revenue increased by 5% y-o-y. During the year, beverages revenue, comprising beer and soft drinks, rose by 10.7% y-o-y to $668.3 million. The growth was due to a favourable sales mix and higher volumes of beer and soft drinks mainly from successful festive campaigns and new product launches.
Fraser and Neave (F&N) has reported earnings of $150.2 million for the FY2024 ended Sept 30, 12.7% higher y-o-y. Earnings for the 2HFY2024, however, fell by 14.9% y-o-y to $66.4 million.
Earnings per share (EPS) for the FY2024 and 2HFY2024 stood at 10.3 cents and 4.5 cents respectively on a fully diluted basis.
