<TABLE id=msgUN border=0 cellSpacing=3 cellPadding=0 width="100%"><TBODY><TR><TD id=msgUNsubj vAlign=top>
Coffeeshop Chit Chat - Under LHY, F&N profit drops...</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>CPL (kojakbt22) <NOBR>
</NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>12:01 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 2) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>24333.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD>F&N reports 17.5% drop in full-year profit
</TD></TR><TR><TD><!-- headline one : end --></TD></TR><TR><TD>Property and F&B do well; unit APB posts 39% rise in net profit </TD></TR><TR><TD><!-- Author --></TD></TR><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Joyce Teo
</TD></TR><TR><TD><!-- show image if available --></TD></TR><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
</TD><TD vAlign=bottom>
Challenging times are ahead, say Fraser and Neave, headed by chairman Lee Hsien Yang (seen here); and Asia Pacific Breweries, helmed by chief executive Roland Pirmez.
</TD></TR></TBODY></TABLE>
<TABLE><TBODY><TR><TD>
View more photos
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->FRASER and Neave (F&N) has reported a 17.5 per cent drop in full-year net profit to $359.5 million, after a fair value loss of $123 million on its investment properties. Revenue rose 6.9 per cent to $5.33 billion.
Excluding the fair value adjustment and other exceptional items, net profit was up 25 per cent at $466.5 million, thanks largely to strong property sales and healthy patronage by beer drinkers.
Revenue from development property rose 27 per cent to $1.5 billion. It achieved record sales of more than 1,800 residential units, a five-fold rise over last year.
It was the top seller in the Singapore market, it said. Two of its launches, The Caspian and 8@Woodleigh, were sell-outs. Two other projects, Martin Place Residences and Soleil@Sinaran, were 97 per cent and 89 per cent sold, respectively.
In the quarter ended Sept 30, the property business posted the strongest revenue and earnings improvement for the year, at 76 per cent and 48 per cent, respectively.
F&N's food and beverage business also maintained strong growth momentum in the quarter.
Chairman Lee Hsien Yang said the company's properties and F&B businesses performed well despite strong global headwinds.
The group has recommended a final dividend of 10.5 cents a share, taking the total dividend for the year to 13.5 cents.
This payout - representing 40 per cent of attributable profit, lower than last year's payout of 51 per cent - takes into account the group's capital position and anticipated capital needs, said F&N.
'Although we have successfully navigated the credit crunch and market illiquidity, the global market condition remains fragile,' said Mr Lee.
Earnings per share, excluding fair value adjustments and exceptional items, jumped to 33.5 cents from 26.8 cents.
Net asset value per share was $4.01 as of Sept 30, up from $3.80 a year earlier.
'Even with the early signs of a possible global economy recovery, the group is cautious about the extent of the recovery and the impact on the markets it operates in,' said F&N in a statement.
Meanwhile, unit Asia Pacific Breweries (APB) has reported a 39 per cent rise in net profit to $172.4 million. It made an exceptional gain of $14.4 million from a compensation fee due to the termination of a business development project and the sale of Liquorland in New Zealand. Revenue edged up 2.1 per cent to $2.04 billion. It has recommended a final net dividend of 18 cents a share, which brings total dividend to 32 cents a share.
Said chief executive Roland Pirmez: '2009 will be remembered as a difficult year with strong competition in almost all our markets amid a largely lacklustre economic backdrop.'
Still, APB managed to sell 2.2 per cent more beer than the previous year on continued brand investments and price adjustments in all its markets, he said.
As the sustainability of the recovery remains uncertain, it expects the markets in which it operates to remain challenging.
F&N shares closed two cents higher yesterday at $3.85, while APB shares were unchanged at $12.
[email protected]
</TD></TR><TR><TD> </TD></TR></TBODY></TABLE><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD class=msgleft width="1%"> </TD><TD class=msgopt width="24%" noWrap>
Options</TD><TD class=msgrde width="50%" noWrap align=middle>
Reply</TD><TD class=wintiny width="25%" noWrap align=right> </TD></TR><TR><TD class=msgbfrbot> </TD><TD colSpan=3> </TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
</TD></TR><TR><TD><!-- headline one : end --></TD></TR><TR><TD>Property and F&B do well; unit APB posts 39% rise in net profit </TD></TR><TR><TD><!-- Author --></TD></TR><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Joyce Teo
</TD></TR><TR><TD><!-- show image if available --></TD></TR><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
Challenging times are ahead, say Fraser and Neave, headed by chairman Lee Hsien Yang (seen here); and Asia Pacific Breweries, helmed by chief executive Roland Pirmez.
</TD></TR></TBODY></TABLE>
<TABLE><TBODY><TR><TD>
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->FRASER and Neave (F&N) has reported a 17.5 per cent drop in full-year net profit to $359.5 million, after a fair value loss of $123 million on its investment properties. Revenue rose 6.9 per cent to $5.33 billion.
Excluding the fair value adjustment and other exceptional items, net profit was up 25 per cent at $466.5 million, thanks largely to strong property sales and healthy patronage by beer drinkers.
Revenue from development property rose 27 per cent to $1.5 billion. It achieved record sales of more than 1,800 residential units, a five-fold rise over last year.
It was the top seller in the Singapore market, it said. Two of its launches, The Caspian and 8@Woodleigh, were sell-outs. Two other projects, Martin Place Residences and Soleil@Sinaran, were 97 per cent and 89 per cent sold, respectively.
In the quarter ended Sept 30, the property business posted the strongest revenue and earnings improvement for the year, at 76 per cent and 48 per cent, respectively.
F&N's food and beverage business also maintained strong growth momentum in the quarter.
Chairman Lee Hsien Yang said the company's properties and F&B businesses performed well despite strong global headwinds.
The group has recommended a final dividend of 10.5 cents a share, taking the total dividend for the year to 13.5 cents.
This payout - representing 40 per cent of attributable profit, lower than last year's payout of 51 per cent - takes into account the group's capital position and anticipated capital needs, said F&N.
'Although we have successfully navigated the credit crunch and market illiquidity, the global market condition remains fragile,' said Mr Lee.
Earnings per share, excluding fair value adjustments and exceptional items, jumped to 33.5 cents from 26.8 cents.
Net asset value per share was $4.01 as of Sept 30, up from $3.80 a year earlier.
'Even with the early signs of a possible global economy recovery, the group is cautious about the extent of the recovery and the impact on the markets it operates in,' said F&N in a statement.
Meanwhile, unit Asia Pacific Breweries (APB) has reported a 39 per cent rise in net profit to $172.4 million. It made an exceptional gain of $14.4 million from a compensation fee due to the termination of a business development project and the sale of Liquorland in New Zealand. Revenue edged up 2.1 per cent to $2.04 billion. It has recommended a final net dividend of 18 cents a share, which brings total dividend to 32 cents a share.
Said chief executive Roland Pirmez: '2009 will be remembered as a difficult year with strong competition in almost all our markets amid a largely lacklustre economic backdrop.'
Still, APB managed to sell 2.2 per cent more beer than the previous year on continued brand investments and price adjustments in all its markets, he said.
As the sustainability of the recovery remains uncertain, it expects the markets in which it operates to remain challenging.
F&N shares closed two cents higher yesterday at $3.85, while APB shares were unchanged at $12.
[email protected]
</TD></TR><TR><TD> </TD></TR></TBODY></TABLE><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD class=msgleft width="1%"> </TD><TD class=msgopt width="24%" noWrap>
