Thailand: ThaiBev’s first-half earnings fall 1.8%

Thai Beverage saw 1H earnings fall 1.8% to 14.3 billion baht (S$580 million) from a year ago, as the King’s mourning period had a longer effect than expected, The Edge Markets reported on May 11.

Revenue fell 8.4% to 97.2 billion baht, as domestic consumption of ThaiBev’s products continued to fall during the mourning period.

The group says it continues to maintain its dominant position in Spirits, although net profit fell 9.7% to 11.8 billion baht.

It also maintained its market share in the beer market, posting a 3% rise in net profit to 2.1 billion baht.

Net profit for food fell 44.4% to 72 million baht. Non-alcoholic beverages saw losses widen 37.5% to 818 million baht.

ThaiBev has declared an interim dividend of 0.2 baht per share.

E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .