KUALA LUMPUR, Feb 3 (Bernama) -- Fraser & Neave Holdings Bhd’s (F&N) net profit for the first quarter ended Dec 31, 2024 (1Q 2025) slipped to RM169.018 million from RM170.737 million recorded in 1Q 2024.
Revenue, however, rose to RM1.39 billion from RM1.33 billion previously, the group said in a filing with Bursa Malaysia today.
“The higher revenue was mainly driven by festive sales in Malaysia and Thailand’s economic recovery, supported by tourist arrivals and increased sales in the Indochina market due to the availability of fresh milk supply.
“Operating profit benefited from better sales mix and lower input costs. However, the expiration of Thailand’s Board of Investment (BOI) incentive for food and beverages has led to higher tax expenses and the incurrence of withholding taxes on dividends repatriated from Thailand,” it said.
For the remainder of the financial year, the group said it is committed to driving growth, enhancing route-to-market capabilities, and optimising operational efficiencies while staying agile in response to market dynamics and geopolitical developments.
“Progress on the integrated dairy farm project in Gemas is on track, with Phase 1 infrastructure development advancing steadily in preparation for the arrival of livestock.
“Additionally, the development of the dairy manufacturing plant in Cambodia is progressing well to strengthen the group's presence in that market,” it added.
-- BERNAMA
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