Citing expectations of better margins across the major businesses of spirits, beer and non-alcoholic beverages, DBS Group Research analysts Chee Zheng Feng and Andy Sim believe “the best is yet to come”.
On Nov 21, Thai Beverage (SGX:Y92
) reported relatively flat FY2024 results ended Sept 30, but analysts have found reasons for cheer, buoyed by an optimistic outlook and improving margins.
For FY2024, Thai Bev reported earnings of THB27.21 billion ($1.05 billion), 0.8% lower y-o-y. Revenue, on the other hand, was up 2.2% y-o-y to THB340.29 billion, led by growth across both its beverages and food businesses.
