SINGAPORE (May 11): Thai Beverage saw 1H earnings fall 1.8% to 14.3 billion baht ($580 million) from a year ago as the King’s mourning period had a longer effect than expected.
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.
The counter closed 1 cent lower at 92 cents.
