Thai Bev's Q1 net profit jumps 14%

THAI Beverage Public Co (ThaiBev) reported a 14 per cent jump in net profit to 8.4 billion baht (S$380 million) from 7.4 billion baht a year ago, led by improvements in the spirits business and a turnaround in the non-alcoholic beverage (NAB) business.

In the three months to December 2019, revenue came in at 75.7 billion baht - a 4.2 per cent improvement from 72.6 billion baht a year ago on the back of an increase in sales across the four business segments.

Sales in the spirits business rose 8.8 per cent, the beer segment improved 0.2 per cent while the non-alcoholic beverages (NAB) and food segments rose 4.4 per cent and 1.5 per cent respectively.

Bottom line from the spirits and non alcohol business saw improvements. Net profit for the group's spirits business rose 26 per cent to seven billion baht while the NAB business turned around and made a net profit of 27 million baht from a loss of 253 million baht. Net profit for Thai Bev's beer business fell 57 per cent to 178 million baht mainly due to a decrease in net profit of Sabeco's beer. The food segment saw a 13.2 per cent dip in net profit to 131 million baht.

Net profit from its mainboard-listed units, Frasers & Neave (F&N) and Frasers Property (FPL) fell 31 per cent to 1.03 billion baht.

Earnings per share stood at 0.34 baht from 0.30 baht.

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No dividend was recommended.

Thai Bev shares closed 0.5 Singapore cent or 0.6 per cent higher at 78.5 Singapore cents on Friday.