F&N 3Q net profit falls to RM84.81mil on weaker earnings, unrecognised tax assets
The decrease in profit after tax resulted from lower earnings and unrecognised deferred tax assets concerning the current year's dairy farm losses, the company said in a Bursa Malaysia filing today.
Revenue also dropped 4.5 per cent to RM1.24 billion from RM1.30 billion previously, primarily due to lower revenue contribution from both food and beverages (F&B) in Malaysia and Indochina, reflecting cautious post-festive consumer sentiment and lower tourist arrivals in Thailand.
"Strong double-digit export growth to other markets helped cushion the decline, although exports to Cambodia were affected by the Thailand-Cambodia border closure," it said.
On prospects, F&N said the economic conditions across Malaysia and Indochina remain uncertain, shaped by cautious consumer sentiment, rising cost pressures and geopolitical tensions.
"In response to the Thailand-Cambodia border clashes, the group activated safety protocols and implemented alternative export routes to Cambodia, including shipping from Malaysia, to ensure supply continuity.
"In light of these developments, the group is maintaining proactive vigilance, refining its procurement and sales strategies and continuing to focus on innovation and healthier product offerings," it added.
-- BERNAMA
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