F&N’s 1Q net profit shrinks 32% to RM92.9mil

KUALA LUMPUR: Fraser & Neave Holdings Bhd (F&N), which saw its net profit fall 32% to RM92.95mil in the first quarter ended Dec 31, 2021 (1Q22), expects the environment to remain challenging moving forward.

“We expect that the environment will remain challenging moving forward due to continuing high prices of key raw and packaging materials and uncertainties arising from the Omicron variant of Covid-19.