Hot stock: ThaiBev rises 2.9% on married deals after results release
The beverage company’s full-year net profit falls 1% on the year
SHARES of Thai Beverage ( ThaiBev ) climbed in early trade on Friday (Nov 22) morning, after the beverage company released its financial statement for the full year ended Sep 30.
As at 11.35 am, the index counter rose as much as 2.9 per cent or S$0.015 to reach S$0.53 on a cum-distribution basis.
About 31.7 million of its shares changed hands, making it the top-traded company by volume at the time. Volumes were also significantly higher than the stock’s daily average levels over the past month.
Three married deals were executed up until then. ShareInvestor data reported that all were made at S$0.522 apiece, with the first taking place at 9.35 am, followed by another at 9.36 am and finally at 10.09 am.
ThaiBev’s share price activity comes after the group on Thursday posted a net profit of 27.2 billion baht (S$1.1 billion) for FY2024, representing a slight drop of 1 per cent from the year before.
The decline in full-year earnings was attributed to higher costs of living, which in turn limited consumer spending, which hit domestic consumption of alcoholic and non-alcoholic beverages.
