Thailand: ThaiBev posted a 5.5% rise in 3Q 2006 profit
Thai Beverage Public Company Limited (ThaiBev), Southeast Asia’s largest producer of alcoholic beverages, posted a 5.5% rise in 3rd quarter profit compared to the same period last year, while 3rd quarter revenue rose slightly. In addition, ThaiBev shares as listed in the Singapore Stock Exchange continued to attract keen interest among fund managers and international investors.
Mr. Thapana Sirivadhanabhakdi, ThaiBev Executive Vice President, said the company’s sales revenue in the 3rd quarter of 2006 was THB20.74 billion, a slight increase from the same period in 2005. The total is divided into THB9.99 billion revenue realized from beer and water sales, THB10.89 billion from liquor, and other products and after the deduction of transaction among related companies.
While revenue from the first nine months of this year totals THB67.37 billion, a slight increase from the same period of last year. The 3rd quarter’s net profit was THB2.285 billion – an increase of 5.5% over the same period last year which was THB2.165 billion.
The total profit for the first nine months of this year is THB7.394 billion – a slight decrease from last year’s figure – as a result of higher prices of raw materials such as molasses, and the cost of fuel. However, the sales total from the 3rd quarter was an improvement of last year’s due in part to the bigger demand for Hong Thong whisky and Archa Beer.
Mr. Thapana added that aside from ThaiBev’s satisfactory performance in the first nine months of this year, ThaiBev’s shares listed on the Singapore Stock Exchange (SGX) have been attracting keen interest from institutional investors from around the world as well as individual investors, particularly among Singaporeans. This is reflected in the high daily traded volumes on the SGX Main Board. From May 30, 2006, when ThaiBev was first listed until November 13, 2006, the average daily volume was 29.23 million shares –among the top five on the SGX. At the same time, ThaiBev stocks’ free float is relatively high at around 22%. ThaiBev also has a policy to pay dividend amounting to at least 50% of its net profit annually. During the first half of this year, the company paid THB0.11 apiece to shareholders.
The Thai Beverage Public Company Limited was founded in October 2003 through the merger of 58 companies involved in the production of alcoholic beverages and related businesses, with a registered capital of THB20.000 million. Subsequently, in December 2003 the registered capital was increased to THB22.000 million. Currently, the Thai Beverage Public Company Limited comprises 63 subsidiaries. The Group owns 16 distilleries, three beer breweries, as well as a factory that produces alcohol for industrial use.
For over 30 years, the companies within the Thai Beverage Group have played a crucial role in supporting the Thai economy both directly and indirectly, in the form of the payment of various taxes and in supporting many social projects. In addition, these companies are directly involved in the Government’s production and sales of alcohol in the modern environment to ensure exponential advances in Thailand’s overall alcohol production industry, thus contributing significant benefits to the country.
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