---
title: "F & N's net profit for the first quarter of the 2026 fiscal year fell 8.9% to 47.4 million yuan | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/275464375.md"
description: "F & N (Fraser and Neave) reported a net profit of SGD 47.4 million for the first quarter of the 2026 fiscal year, a year-on-year decline of 8.9%, with revenue decreasing by 4% to SGD 592.9 million, and earnings per share of 3.3 cents. Although the revenue decline was mainly due to weak market demand, profit before interest and tax (PBIT) increased by 8% year-on-year to SGD 98.8 million, benefiting from strong performance in the beverage sector. The group's leverage ratio is 27.5%, up from 21.8% last year. In addition, F & N plans to increase its stake in Vietnam's Vinamilk and improve supply chain efficiency after the new dairy facility in Cambodia becomes operational"
datetime: "2026-02-10T13:12:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/275464375.md)
  - [en](https://longbridge.com/en/news/275464375.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/275464375.md)
---

# F & N's net profit for the first quarter of the 2026 fiscal year fell 8.9% to 47.4 million yuan | Lianhe Zaobao

Fraser and Neave (F&N) reported a year-on-year decline of 8.9% in net profit for the first quarter of the 2026 fiscal year, amounting to SGD 47.4 million; revenue decreased by 4% to SGD 592.9 million.

Earnings per share were 3.3 cents, down 8.3% from 3.6 cents in the same period last year.

F&N stated in its first-quarter business report for the period ending December 31, 2025, released on Tuesday (February 10), that the revenue decline was mainly attributed to weak demand in certain markets. Meanwhile, profit before interest and tax (PBIT) grew by 8% year-on-year to SGD 98.8 million, thanks to strong performance in the beverage sector, particularly in the beer business.

Additionally, F&N's leverage ratio was 27.5%, up from 21.8% in the 2025 fiscal year.

#### Further Reading

To raise operating funds, F&N issues notes worth SGD 125 million F&N plans to increase its stake in Vietnam's Vinamilk by up to 4.6% for SGD 295 million

On the other hand, F&N indicated that it will continue to focus on deepening its presence in the Southeast Asian dairy sector. The group increased its stake in the Vietnamese dairy company Vinamilk on December 22 last year to further expand its footprint in the Vietnamese market.

The group also mentioned that the new dairy facility in Cambodia, once operational, will enhance the group's supply chain efficiency and reduce reliance on imports.

F&N closed at SGD 1.51 on Tuesday, up 0.67%

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