In a business update, Thai Beverage has reported an operating profit of 14.7 billion baht ($580 mil) for 1QFY2022 ended Dec 2021, up 1.6% y-o-y. Revenue in the same period was up 7.4% y-o-y to 77.1 billion baht.
Of its four main business segments, its food segment – the smallest unit - generated the most improvement in operating profit, with an increase of 35.6% y-o-y to 545 million baht. Revenue was up 21% y-o-y to 3.8 billion baht.
On the other hand, operating profit of its spirit business, which is the largest among the four, reported revenue of 36 billion baht, up 3.6% y-o-y.
However, due to higher raw material cost, specifically molasses, operating profit was down 2.3% y-o-y to 9 billion baht. Nevertheless, Thai Bev expects cost of molasses to trend down in the coming quarters.
Thai Bev closed Feb 14 at 66 cents, unchanged for the day, and unchanged year to date as well.
