Singapore: Fraser & Neave Q1 net profit raised 11.6% due to stronger beer sales

Fraser & Neave (F&N), a Singapore conglomerate which brews Tiger beer and owns shopping malls, on Friday reported an 11.6 percent rise in first-quarter profit to S$76.6 million ($50.6 million) due to stronger property and brewery operations, Reuters reported February 9.

The group, in which state investor Temasek Holding bought a 15 percent stake in December, said it was positive on the outlook for the full year, with underlying profit before exceptional items expected to improve.

F&N and Dutch brewer Heineken jointly own Tiger beer maker Asia Pacific Breweries.

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