F&N

F&N: 1Q14 net profit grew 3% to $36m on revenue of $597m (+5%), as operating margins grew 0.9ppt to 9.8%. The higher revenue was led by the Beverages segment which recorded higher revenue (+11%) due to contribution from all operations. Dairies also recorded higher revenue (+6%) from its operations in Thailand and Malaysia, while its Printing and Publishing revenue was lower (-10%).