F&N's profit after tax falls 4% in FY2025

The higher Thailand tax costs offset F&B earnings growth.

Fraser and Neave Ltd (F&N) recorded a 4% drop in profit after tax to $210.4m for the year ended 30 September 2025, from $219.1m in FY2024, due to higher taxes following the expiry of a Thailand tax incentive.

Group profit before interest and tax rose 4% to $308.1m, supported by lower input costs and favourable foreign exchange. Attributable profit before exceptional items was stable at $150.4m, with earnings per share unchanged at 10.3 cents.

The Food and Beverage segment drove earnings growth, with profit before interest and tax up 6% to $302.1m. Higher contributions from Malaysia and Thailand offset a 14% decline in profit from associate Vietnam Dairy Products Joint Stock Company to $81.8m.

Publishing and Printing posted a wider loss before interest and tax of $ 5.5m from $1.5m a year earlier. The board proposed a final dividend of 4.0 cents per share, maintaining total dividends at 5.5 cents, or 53% of attributable earnings.

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