F&N mulls price increase for selected products

KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&N) is considering price increases for selected products, depending on the sugar price movement next year, according to its CEO Lim Yew Hoe.
Speaking to a press conference after announcing its full year results here today, Lim said despite the increase in sugar prices this year, the group is well hedged until end of the year.
"We haven't made any decision (yet), it will depend on how sugar prices move (next year). But if there is any price increase, it will be only on selective products," he said.
For the fourth quarter ended Sep 30, 2016 (Q4FY16), F&N's net profit declined 12.58% to RM49.59 million, from RM56.72 million in the previous corresponding quarter, due to soft market conditions and one-off restructuring expenses.
Revenue fell 4.19% to RM976.5 million, compared with RM1.02 billion previously.
For the full year, its net profit up 37.6% to RM385.37 million, from RM280.07 million a year ago, while revenue increased 1.5% to RM4.17 billion, against RM4.11 billion last year.