KUALA LUMPUR, Aug 4 -- Fraser & Neave Holdings Bhd’s (F&N) net profit increased to RM96.16 million for the third quarter ended June 30, 2021 (Q3 2021), from RM93.85 million in Q3 2020.
Revenue had also improved to RM1.06 billion from RM918.07 million previously due to the maiden contribution from its recently acquired subsidiary, Sri Nona, it said in a filing with Bursa Malaysia, today.
It said the food and beverage (F&B) Malaysia revenue for Q3 2021 rose by 17.1 per cent to RM540.2 million from RM461.4 million previously as revenue from the domestic market grew from ramp up in sales in the run up to Hari Raya Aidilfitri, the Harvest festive season and Ramadan Bazaars in operation.
"The Aidilfitri festive season sales were better than last year for both beverages and dairies. However, the positive sales momentum was disrupted in June amidst the Full Movement Control Order (MCO) lockdown.
"Food business (Sri Nona) also contributed to the growth for the Aidilfitri season from the sale of rice cakes (ketupat) and other products with the increase of in-home consumption," it said.
The group said F&B Thailand also saw a very encouraging performance, as revenue grew by 13.6 per cent to RM517.9 million in Q3 2021 from RM455.8 million in Q3 2020, partly offset by the unfavourable Thai baht-ringgit translation.
"The positive revenue contribution from both F&B Malaysia and F&B Thailand, as well as the maiden contribution from Sri Nona, contributed to the growth in the group's year-to-date revenue, which rose by 6.6 per cent to RM3.23 billion from RM3.03 billion in 2020," it added.
On prospects, the group said it remains cautious in its outlook given the challenging market conditions, following the escalation in COVID-19 cases in its key markets.
F&N said it will continue to strengthen its fundamentals, reengineering and simplifying processes, optimising resources, reviewing its cost structure and undertaking restructuring exercise wherever appropriate.
"We are also leveraging technology and digitalisation to improve processes and operations, to provide insight to sharpen our market execution and gain competitive advantage.
"Our new Halal Food pillar will provide a platform for us to expand into more halal food segments and innovative products offerings," it said.
-- BERNAMA
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