Higher tax drags F&N’s profit by 13% to $64m in Q1

The effective tax rate increased to 29.4%.

Fraser & Neave, Limited (F&N) reported its profit after tax declined by 13.6% to $64.1m in the first quarter, ended in December 2025, from $74.2m, as the effective tax rate increased to 29.4% from 10.8%.

Profit attributable to shareholders also fell 8.9% to $47.4m from $52.0m, according to the company’s voluntary business update.

The group also reported a 4% decline in revenue to $592.9m from $618.0m a year earlier.

“Group revenue was impacted by festive timing effects and softer demand in selected markets,” it said.

Food and beverage revenues declined by 5% as beverages were kmpacted by the timing of Chinese New Year and lower beer volume.

Dairy revenue also saw a weaker in Indochina demand, offset by the Malaysian school milk program and favourable forex translation.

Meanwhile, P&P’s revenue increased 4% due to the Education segment.

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