ThaiBev’s FY15 earnings surge 22% to $1.05b

Thanks to a boost from its Myanmar Brewery disposal.

Thai Beverage PLC (ThaiBev)’s earnings for FY15 soared 22% YoY to THB26.5b, or about $1.05b, thanks to a THB3.8b gain from its parting of ways with Myanmar Brewery in the third quarter of the year.

According to OCBC, net profit from continuing operations rose 5.5% YoY to THB22.6b as ThaiBev’s beer segment enjoyed a whopping 207% YoY surge in net profit, while F&N/FCL saw a 40.5% YoY surge.

“Notably, Beer segment enjoyed higher sales volume, price, lower raw material price and higher utilization rate, offset by an increase in staff costs and promotional expenses,” stated the report.

Revenue for the year showed a 6.2% growth to THB172b, underpinned by growth in sales of spirits (1.3% YoY), beer (22.5% YoY), and non-alcoholic beverages (4.5% YoY). On the other hand, food sales dipped 0.4% YoY.