ThaiBev's Q3 profit plunged 61% to $247.72m

Blame weak performance from the spirit, non-alcoholic and food business.

Crippling market conditions continued to weigh in on ThaiBev after profit plunged by 61% YoY to $247.72m (THB5.99b) in Q3, according to its financial statement.

Earnings in the spirit business fell 15.6% to $166.09m (THB4,016m) on the back of lower sales revenue.

ThaiBev’s earnings from the non-alcoholic beverages segment also crashed 33% to $11.82m (THB$286m). The company’s food business segment also posted flat earnings at $1.32m (THB32m).

Profit from its stake in Fraser & Neave and Frasers Property also plummeted by 80.9%.

The company was also hit by the lack of a recognition of a fair value gain on a financial asset of $351.34m (THB8.5b) in Q3.

However, ThaiBev’s beer business performed strongly on the back of stronger Sabeco beer sales with profits surging 66% YoY to $41.58m (THB1,006m).

Also read: ThaiBev set to lead beer industry by 2020

“International beer sales revenue soared on account of Sabeco’s beer sales, which has been consolidated into the Company’s earnings since the last reporting quarter,” the company added in its report.

Also Read

Food factory at 30 & 32 Tuas Avenue 12 up for sale for $19.0m

Singapore Polytechnic launches training facility for food manufacturing

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit