F&N shares up on improved earnings

PETALING JAYA: The shares of Fraser & Neave Holdings Bhd (F&N) rose 8 sen this morning after the company reported a 51% jump in net profit for the third quarter ended June 30, 2018.
At midday, its share price was 0.21% or 8 sen higher at RM37.48 with 135,700 shares traded.
Yesterday, F&N told Bursa Malaysia that its net profit for the quarter improved to RM104.5 million from RM69.37 million a year ago with positive contribution from both F&B Malaysia and F&B Thailand.
Revenue however declined marginally by 1.1% to RM1.03 billion compared with RM1.04 billion in the previous year’s corresponding quarter mainly due to lower revenue from F&B Thailand.
For the nine months period, its net profit was flat at RM303.89 million, compared with RM303.73 million a year ago, while revenue eased marginally by 0.4% to RM3.11 billion from RM3.13 billion in the previous year’s corresponding period.