F&N to weather uncertain times

F&N Holdings' recent acquisition of Sri Nona companies would aid in complementing its halal food portfolio and should present itself as a new pillar of growth in the longer term.

KUALA LUMPUR: Kenanga Research has tapered its earnings estimate on Fraser & Neave Holdings Bhd amid the resurgence of Covid-19 cases and higher commodity price trends but it expects the group to weather the uncertain times.

The research house, which has a "market perform" on the stock, said it expects FY21 core net profit to lower than than initially expected despite the first quarter result coming within expectations at 31% of its and consensus full-year estimates.