KUALA LUMPUR, April 27 — Fraser and Neave Holdings Bhd registered a lower net profit of RM93.87 million in the second quarter ended March 31, 2022 from RM103.51 million amid commodity price pressures and unfavourable foreign exchange translation.
In a filing with Bursa Malaysia today, F&N said Malaysia’s food and beverage revenue in Q2FY22 increased nine per cent to RM615.1 million from last year, on the back of higher sales from the Chinese New Year festivities, easing Covid-19 restrictions and effective on-ground activation and promotions.
It said revenue for food products also notched double-digit growth from early sell-in for Hari Raya Puasa festive season and successful CNY promotions for its oyster sauce category. “Following the floods in December 2021, our manufacturing facilities in Shah Alam resumed operations in stages since mid-January.Meanwhile, F&B Thailand revenue in bhat terms declined marginally by one per cent, whilst revenue in ringgit terms was more adversely impacted by -6.5 per cent.
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