ThaiBev's Q3 net profit falls 61%

THAI Beverage (ThaiBev) posted a net profit of 5.99 billion baht (S$247.3 million) for the third quarter ended June 30, a 61 per cent fall from 15.23 billion baht a year ago. (see amendment note)

The fall was attributed to several factors, including profit decreases in the spirits and beer businesses and an increase in net loss from the non-alcoholic beverages business.

Revenue rose 34 per cent to 60.71 billion baht from 45.9 billion baht in the corresponding quarter of the previous year. This was due to increases of 105.2 per cent and 109.7 per cent in sales for the beer and food businesses, respectively.

ThaiBev reported earnings per share of 0.24 baht, versus 0.61 baht for Q3 2017.

Shares closed trading flat at S$0.70 on Tuesday, before results were announced.

Amendment note: An earlier version of this article incorrectly stated that ThaiBev's Q3 net profit a year ago was 15.23 million baht. It is in fact 15.23 billion baht. The article above has been revised to reflect this.