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.
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