ThaiBev posts Q3 earnings of 4.08b baht

THAI Beverage posted a 74 per cent fall in its third-quarter net profit to 4.08 billion baht (S$161 million), on the lack of associate investment gains made in the corresponding period last year, which related primarily to its acquisition of a stake in Fraser and Neave (F&N).

In Q3 2012, the group had booked a 12.7 billion baht gain at the associate level related to its acquisition of 29 per cent of F&N by its subsidiary, International Beverage Holdings Ltd.

For the three months to September, group revenue declined 7 per cent year on year to 35 billion baht on a drop in revenue from the group's beer business and non-alcoholic beverages, but higher revenue from its "spirits" and food business helped offset the decline.