Thailand & Singapore: ThaiBev reports 11.4% dip in beer business net profit

The net profit of SGX-listed beverage company, ThaiBev, excluding non-recurring items, dipped 4.8% year-on-year (YoY) to $1.1 mln (27.339 mln baht) in the financial year 2021, the Singapore Business Review reported on November 30.

Including the non-recurring items, however, the net profit rose 4.9% YoY.

The company attributed the decrease to declines in net profits of their beer business, non-alcoholic beverage business, and a net loss of their food business, which were still reeling from the impact of the pandemic.

Specifically, their beer business net profit declined by 11.4% to $126,431 (3.119 mln baht), whilst their non-alcoholic beverages business by 30.2% to $18.596 mln (458 mln baht).

Meanwhile, their food business saw a 383.2% net loss during the year, sinking to $19.78 mln (488 mln baht).

ThaiBev�s spirit business, on the other hand, remained resilient with only a 0.6% decrease in net profit to $897,340 (22.138 mln baht).