SINGAPORE: Net up 11% at F&N but APB earnings down
Fraser & Neave has been tipped by analysts to turn in full-year profits in the region of S$232.7m. But F&N reiterated that it was on track to achieve EPS of S$1 for the current financial year. Sales revenues were up 18% to S$3.48 billion on the back of strong beer and property sales. F&N said its soft drink business also performed well.
However, Asia Pacific Breweries, in which F&N owns a 38% stake and Heineken a 42.5% share, saw net profits for the year fall 11% to S$84.9m from S$95.2m last year. Sales revenues rose by 8.3% to S$1.10 billion from S$1.01 billion.
"The fundamentals of the group's business remain sound but the global political and economic environment presents uncertainties in the near term," APB said.
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Heineken said yesterday that its Austrian subsidiary Brau Union AG has signed an agreement for the divestment of its Real Estate Division. This division comprises all non-business related real estate ...
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
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