ThaiBev FY13 drops 33% on one-offs

AN exceptional year-ago gain sent Thai Beverage Public Co's full-year profit to a 33 per cent drop from what would otherwise have been an 18 per cent growth, the brewer of Chang beer said yesterday.

Net profit for the year ended December fell to 19.1 billion baht (S$741.6 million), or 0.76 baht per share, in the absence of a 12.7 billion baht gain from ThaiBev's acquisition of a 29 per cent stake in Fraser and Neave (F&N) that was recognised in the revised 2012 results. Excluding that one-off gain, profit before minority interests would have risen 18 per cent.

ThaiBev is proposing a dividend of 0.3 baht per share. It had paid an additional 0.14 baht per share in September.