"Management also highlighted healthier domestic demand, while costs remain well controlled through early raw material procurement and disciplined marketing spending," he adds.
Citing signs of a cyclical recovery, Hussaini Saifee of Maybank Securities has turned more bullish on Thai Beverage after the alcohol giant's 2QFY2026 results, with call upgraded from "hold" to "buy".
He observes that spirits revenue was up 1.3% y-o-y and net profit up 6.4% despite cautious consumer conditions. Beer rebounded strongly in 2Q after a weak 1Q, supported by festive activities and improving demand momentum.
