ThaiBev shares tumble 7.3% following 12% fall in Q2 earnings

Singapore

THAI Beverage Public Company Limited's (ThaiBev's) second-quarter earnings - released after market close on Friday - fell mostly within analysts' expectations, with most research houses maintaining their calls on the benchmark index constituent.

But OCBC Investment Research was not one of them. Instead, it downgraded its recommendation on the food and beverage player to a "hold" and lowered the fair value from S$0.91 to S$0.88. This follows a 12 per cent decline in ThaiBev's bottom line from the year-ago period to 5.79 billion baht (S$249.9 million).