Fraser & Neave FQ2 Net Profit Down 21%

Fraser & Neave Ltd FNEVY reported a 21% decline in its fiscal second-quarter net profit. F&N's quarterly profit dropped to S$103.5 million, versus a restated S$131.2 million, in the year-earlier period. Its revenue fell 6.7% to S$1.23 billion, versus a restated S$1.32 billion. Revenue from its soft drinks business dropped to S$154.1 million from S$191.6 million, while revenue from its breweries business climbed 19% to S$509.1 million. It also declared an interim dividend of 6 Singapore cents a share.