ThaiBev's net profit takes a hit

Singapore

DECLINE in domestic consumption during the period of mourning over 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. This brings net profit for the first half of the financial year to 14.3 billion baht - 2 per cent lower than in the year-ago period.