KUALA LUMPUR: Fraser and Neave Holdings Bhd recorded a net profit of RM385.4 million in the full year ended Sept 30, surged 37.6 per cent from RM280.1 million in the same period last year on the back of favourable milk-based global commodity prices and manufacturing efficiencies. The group maintained its year-on-year growth despite challenging market conditions with higher revenue of RM4.17 billion in the full year period, which rose 1.5 per cent from RM4.11 billion a year ago. Its chief executive officer Lim Yew Hoe said the group would remain vigilant and respond to changing market dynamics while proactively focusing on appropriate measures to maintain its competitiveness. "In the immediate term, the softer domestic and global economic environment and escalating commodity prices do pose a challenge to sustain the pace of growth. "In the longer term, the various transformation initiatives will put the group on a stronger platform for sustainable growth in both revenue and profit," he said.

Source: New Strait Times November 03, 2016 07:55 UTC