F & N - Fraser and Neave rated 'buy' by DBS

Stock Name: F & N
Company Name: FRASER AND NEAVE, LIMITED
Research House: DBS Vickers

DBS Vickers Securities in a Feb 11 research report says: "1Q11 core net profit, excluding exceptional gains, at $156.5 million grew by 15% y-o-y on sales of $1.55 billion (+9% y-o-y). Sales was supported by its strong F&B divisions, namely breweries (+31%), soft drinks (+28%) and dairies (+12%).

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