Higher costs, forex woes take a bite out of F&N's profits in Q3

Net profit dropped 9% to $40.5m.

Higher operating costs and unfavourable foreign exchange rates took a bite out of Fraser & Neave's bottomline in the third quarter.

The group reported a net profit of $40.5m in the third quarter, down 9% from $44.5m in the same period last year.

In spite of double-digit profit growth from Soft Drinks Malaysia, the group's beverages profit before tax was flat at $50m due to higher operating costs and unfavourable exchange rates.

Soft Drinks Singapore saw revenue growth led by 100PLUS as a result of its 28th SEA Games sponsorship. However, faced with intense competition and increased marketing spend on new products, Oishi and Cocolife, Soft Drinks Singapore 3Q2015 earnings fell 9 per cent.

Myanmar Brewery enjoyed higher ales, but earnings fell 5% year-on-year due to the weakening of the Myanmar Kyat.