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F&N to see year-end boost from vaccination rate


KUALA LUMPUR: On the back of strong earnings results in its latest quarter, Fraser & Neave Holdings Bhd
(F&N) is displaying resilience during the pandemic and is expected to record stronger earnings moving into the year-end.
According to Kenanga Research, the beverage maker s 9MFY21 results were above expectations at 80% and 78% of its and consensus full-year estimates, considering the prevailing restrictions as compared to the previous corresponding period.
As the vaccination rate in Malaysia grows and herd immunity is targeted for December, F&N s earnings are expected to receive a boost in the months ahead.
Premised on the ease of restrictions coupled with year-end activities ....

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Kenanga cuts earnings outlook on F&N


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.
Moving forward, qualms surrounding the resurgence of Covid-19 globally as well as the higher commodity price trends are likely to continue to temper with the anticipated earnings recovery, it said. ....

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