ThaiBev's net profit slips 23.5% to 6.56b baht in Q2 as domestic consumption declines

DECLINE in domestic consumption during the period of mourning for the death of the Thai king weighed down results for Thai Beverage in its second quarter.

Net profit tumbled 23.5 per cent to 6.56 billion baht (S$266 million) from the previous year, the group said in a Singapore Exchange filing on Thursday evening.

For the three months ended March 31, revenue fell 8.8 per cent to 50.35 billion baht from the previous year. The decrease in revenue was due to a decrease in sales of the spirits business, beer business and non-alcoholic beverages, although food business saw a rise in sales, it said.

Earnings per share slid to 0.26 baht from 0.34 baht in the preceding year. Net asset value per share crept up to 4.89 baht as at March 31, from 4.78 baht six months ago.

An interim dividend per share of 0.20 baht was proposed. Thai Beverage shares finished at S$0.915, down S$0.015 or 1.613 per cent, on Thursday.