KUALA LUMPUR (Feb 8): Shares of Fraser and Neave Holdings Bhd fell to as low as RM16.60 on Wednesday after it posted a set of weaker first quarter earnings for the period ended Dec 31, 2011.
At 9.27am, it was down 70 sen to RM16.90. There were 50,800 shares done at prices ranging from RM16.60 to RM17.20.
F&N reported a 61% decline in its earnings to RM41.74 million in the first quarter ended Dec 31, 2011 from RM107.08 million a year ago, due to the absence of contribution from the Coca-Cola business.
It said on Feb 3, the earnings were also impacted by the different timing in the accounting of operating losses in Thailand due to the severe floods last year and recovery under its business interruption insurance policy.
At 9.27am, it was down 70 sen to RM16.90. There were 50,800 shares done at prices ranging from RM16.60 to RM17.20.
F&N reported a 61% decline in its earnings to RM41.74 million in the first quarter ended Dec 31, 2011 from RM107.08 million a year ago, due to the absence of contribution from the Coca-Cola business.
It said on Feb 3, the earnings were also impacted by the different timing in the accounting of operating losses in Thailand due to the severe floods last year and recovery under its business interruption insurance policy.
