ThaiBev Q2 profit drops 12.2% to 5.79b baht

Singapore

THAI Beverage's (ThaiBev) second quarter net profit fell 12 per cent to 5.79 billion baht (S$249.9 million) from a restated 6.59 billion baht, due to a poorer showing in the spirits business, food business and its mainboard-listed units, Fraser and Neave (F&N) and Frasers Property (FPL).

Revenue for the three months ended March 31 rose 4 per cent to nearly 70 billion baht. Revenue from beer, non-alcoholic beverages and food increased by 13.3 per cent, 9 per cent and 10.5 per cent, respectively. This was partially offset by a 5.8 per cent fall in spirits revenue.