Singapore: F&N sees profits grow by 18.8% as beer sales more than double in quarter to December 31

Beverage company F&N saw its profit grow by 18.8 per cent, with the food and beverage business segment driving its topline performance in the first quarter that ended on Dec 31, The Straits Times reported on February 7.

Within this segment, growth was attributed to its soft drink sales, which were driven by a favourable sales mix and higher volumes ahead of Chinese New Year, it said on Feb 7.

Soft drinks contributed to a 38 per cent profit increase, driven by higher sales and a favourable cost environment, it added. The volume of sales was led by 100 Plus and F&N carbonated drinks.

Sales were also supported by new product launches, such as F&N sparkling zero in three flavours, limited edition gold cans and festive packs for the Chinese New Year celebrations.

Meanwhile, beer sales also more than doubled, primarily driven by its Tapper brand in Myanmar. The brand was launched in June 2024.

All core markets also recorded growth in F&N’s dairy business, supported by higher domestic and export demand in Indochina, it noted. Overall, this segment grew 19 per cent.

However, revenue for its printing and publishing segment fell, attributed to lower licensing income in Latin America, as well as the absence of one-off title rights sales in Hong Kong in 2024.

F&N recorded a profit of $52 million in the first quarter of its 2025 financial year, up from $43.8 million.

Meanwhile, revenue went up by 16.3 per cent to $618 million, from $531.6 million.

The group’s earnings per share stood at 3.6 cents, a 20 per cent increase from three cents in the year-ago period.

Shares of F&N closed 1.6 per cent higher at $1.29 on Feb 7.

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