Fraser & Neave Holdings Bhd (F&N) said net profit for the first quarter to December 2004 increased 7.9% year on year to MYR 35.08M due to higher soft drinks sales, lower discounts in its dairy business, and higher output from its glass factory in China. Pre-tax profit grew 7% year on year to MYR 48.28M on the back of a 5.7% rise in turnover to MYR 478.23M. The company also said in notes accompanying its results that pre-tax profit for the first quarter to December 2004 was 29% higher than for the previous quarter to September 2004. The firm said better results from the glass division and higher festive sales of soft drinks contributed to the better performance. The firm's glass operations are expected to improve due to the reinstatement of production capacity following a rebuilding exercise in 2004.
