Tax incentives lift F&N net profit in Q1

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Net profit rose to RM136.8mil compared with RM128.3mil made a year ago. Sales fell to RM1.08bil from RM1.11bil.

reported lower revenue and operating profit in the first quarter ended Dec 31 due to Covid-19 challenges and higher raw material prices, but tax incentives enjoyed in Thailand boosted the group's bottomline.

Operating profit was RM156.7mil compared with RM157.9mil previously, the company said in a filing with Bursa Malaysia today. The group said it is looking beyond the current pandemic and is exploring ways to “reimagine” its businesses through organic and inorganic growth to ensure a more sustainable future.

 

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