Petaling Jaya: Fraser & Neave Holdings Bhd (F&N) achieved record full-year revenue of RM5.25 billion in FY24 covering the period from Oct 1, 2023 to Sept 30, 2024, up 4.9% from FY23. higher, boosted by higher domestic sales by food end. Beverages Malaysia (F&B Malaysia) and Food & Beverages Thailand (F&B Thailand), and exports to Cambodia.
Group operating profit for FY24 rose 10.4% to RM709.5 million from the previous year. Meanwhile, the group’s profit after tax rose 0.4% year-on-year to RM544.3 million despite higher tax expense.
Lim Yu Ho, CEO of F&N, commented, “The Group’s performance in FY24 confirms our resilience in a rapidly evolving environment. We achieved strong profits and maintained a strong cash position despite higher start-up costs for new ventures. Our continued strategic investments and cost optimization initiatives have enabled us to maintain a healthy growth momentum while addressing external challenges in the global market.
He said his efforts throughout the year included a keen focus on identifying opportunities to derive value from existing operations for the benefit of the Group and its stakeholders.
“By strategically seizing opportunities, we have further strengthened relationships with shareholders, customers, partners, employees and the community,” Lim said.
He said Halal packaged foods is a key pillar in their strategy to drive growth at the top and bottom lines.
“Our continued efforts to create synergy within the group, including streamlining and standardizing operations following the acquisition of Shree Nona and Cocoland in FY2012, have led to improved profit margins, increased operational efficiency, and more effective decision making. processes are enabled. Beyond the products, we also aim to be thought leaders in the halal sector, collaborating with stakeholders such as Halal Development Corporation Bhd to raise awareness of the quality and diversity of our halal offerings.”
Lim underlined the group’s balanced focus between development initiatives in agriculture and its traditional businesses. “We are equally committed to investing in our core businesses as part of our long-term growth strategy.
“In addition to our new dairy manufacturing plant in Cambodia’s Suvannaphum Special Economic Zone to expand our presence, other new capital expenditures to complement existing operations and capture future value include a new carbonated beverage and beverage manufacturing plant in Butterworth. Includes water line and a new sterilized milker. Filling and packing line at Pulau Indah.”
Shareholders at the 63rd annual general meeting on Wednesday approved a final single-tier dividend of 33 sen per share for the financial year ending Sept 30, 2024 (2023: 33 sen per share), bringing the total dividend for FY24 to It became 63 sen per share. (FY23: ordinary dividend of 60 sen per share and additional special dividend of 17 sen per share), amounting to RM231.1 million (2023: RM282.4 million).
The final dividend of approximately RM121 million (FY23: RM183.4 million) is scheduled to be paid on February 10, 2025.
