Fraser & Neave Holdings Bhd (F&N) FY26 Performance Overview
Fiscal year ending 30 September 2026
- Net profit fell to RM 437.09 million, down 14 % from RM 508.46 million in FY25.
- Revenue declined to RM 4.92 billion, a 3.3 % reduction from RM 5.19 billion in FY25.
- The company announced a final dividend of 30 sen per share, bringing the total dividend for FY26 to 60 sen per share and a dividend payout ratio of 50 % (up from 47 % in FY25).
Quarterly Highlights (4Q FY26)
- Net profit for the quarter increased by 18.2 % to RM 135.05 million, compared with RM 114.29 million a year earlier.
- The increase was largely attributed to lower tax expenses.
- Revenue for the quarter fell 3.1 % to RM 1.19 billion, impacted by weaker sales in Cambodia, ongoing border closures, and adverse foreign‑exchange movements.
Segment Performance
| Segment | 4Q Revenue (RM billion) | 4Q Net Profit (RM million) | Year‑on‑Year Change |
|---|---|---|---|
| Malaysia F&B | 3.06 | 46.6 | +3 % revenue, –28 % profit |
| Indochina F&B | 1.13 | 17.5 | –17 % revenue, –25 % profit |
| Total | 4.19 | 64.1 | –3 % revenue, –24 % profit |
*Malaysia F&B revenue grew 3 % while profit fell 28 % due to rising operating costs and a weaker USD.Indochina F&B revenue and profit declined 17 % and 25 % respectively, mainly because of disrupted border trade with Cambodia, slower Thai tourism, and a weaker Thai baht.
Strategic Focus
- F&N AgriValley: The group is prioritising productivity and operating efficiency as the integrated dairy operation scales up.
- Cambodia manufacturing: Following the commencement of local operations in October 2026, the company plans to ramp up production, strengthen distribution, and expand market presence.
- The board remains committed to stabilising and gradually expanding the AgriValley and new Cambodian factories as long‑term growth engines, despite short‑term investment costs affecting profitability.
Market Context
- On 3 November 2026, Bursa Malaysia closed at a high, driven by buying activity in high‑market‑cap banking shares.
- Sentiment remained cautious, with investors wary of external uncertainties.
Key Financial Metrics (as of 2 November 2026)
- Close price: MYR 21.2
- 52‑week range: MYR 19.46 – 36.82
- Market cap: MYR 7.78 billion
- P/E ratio: 18.27
The company’s FY26 results reflect a combination of external pressures—regional trade disruptions and currency volatility—and internal investment dynamics. While profitability declined, the group’s dividend policy has been maintained, and operational initiatives in AgriValley and Cambodia signal a focus on long‑term resilience.
