ThaiBev's Q3 profit jumps 162% on fair valuation gains
THAI Beverage's (ThaiBev) net profit for the third quarter ended June 30 soared 162 per cent year on year to 15.23 billion baht (S$625 million), boosted by the recognition of fair valuation gains on financial assets.
Fair valuation gains on financial assets worked out to nearly 8.5 billion baht. In comparison, there was no such gain in the corresponding quarter a year ago.
Revenue was flat at 45.28 billion baht, on the back of weaker sales of beer, non-alcoholic beverages and food due to the mourning period in Thailand. However, its spirits business increased by 4.5 per cent.
Earnings per share rose to 0.61 baht, up from 0.23 baht a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
LHN warns H1 2024 net profit could decline by 28.6%
iPhone maker Hon Hai’s April sales rise 19% in positive signal
Worsening weather is igniting a US$25 billion market
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades