F&N's attributable profit rises 13% YoY to $150.2m in FY24

Strong performance from its F&B segment drove the increase.

Fraser and Neave, Limited's (F&N) attributable profit increased 13% YoY to $150.2m in FY 2024, even with a higher effective tax rate following the conclusion of corporate tax incentives in Thailand.

The company's s profit before interest, taxation and exceptional items (PBIT) and revenue likewise rose, increasing 19% YoY to $297m and 3% YoY to $2.2b, respectively.

F&N attributed its improved PBIT and revenue to the strong performance of its Food & Beverage (F&B) segment.

Within the F&B segment, Beverages, which comprise Beer & Soft Drinks, led the increase, with an 11% YoY revenue growth,

With higher attributable profit, the company's earnings per share rose to $0.103 from $0.092.