Fraser & Neave Holdings Bhd (F&N) recently shared their financial report for the fourth quarter ending 30 September 2024.
The company's net profit fell 38% to RM84.99 million compared to RM137.56 million last year.
The decrease was mainly due to higher tax costs and additional withholding tax related to its operations in Thailand, as special tax incentives have ended.
Despite these challenges, F&N revenue increased marginally by 1.61% to RM1.26 billion, driven by stronger local sales in Malaysia and Thailand.
However, external factors such as geopolitical tensions and unfavorable currency rates add to the pressure.
The company's earnings per share fell from 37.5 sen to 23.2 sen.
F&N declared a final dividend of 33 cents for shareholders, down from 50 cents the previous year, including a special bonus.
For the fiscal year, net profit increased by 1.09% to RM542.77 million, with overall revenue increasing by 5% to RM5.25 billion, helped by higher domestic sales and exports to Cambodia.
F&N plans to strengthen its business and advance agricultural growth through its AgriValley project.
The company is also dealing with challenges, such as the delayed arrival of livestock for their dairy farm in Gemas due to bird flu concerns.
Despite these issues, F&N continues to invest, including new production lines in Malaysia and Cambodia.
