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Fraser & Neave fiscal Q1 profit falls YOY

Fraser & Neave Holdings Bhd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was 14 Malaysian sen per share, a decline of 5.8% from 15 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 50.8 million ringgits, a decline of 5.7% from 53.8 million ringgits in the prior-year period.

The normalized profit margin declined to 4.9% from 5.7% in the year-earlier period.

Total revenue climbed 9.3% year over year to 1.04 billion ringgits from 947.8 million ringgits, and total operating expenses climbed 10.9% on an annual basis to 955.5 million ringgits from 861.9 million ringgits.

Reported net income increased from the prior-year period to 69.9 million ringgits, or 19 sen per share, from 68.7 million ringgits, or 19 sen per share.

As of Feb. 10, US$1 was equivalent to 3.58 ringgits.