,Singapore

Cheers! ThaiBev profit to grow 6.6% in H2

Thanks to the company's improved distribution channels.

CIMB forecasted that the core net profit of ThaiBev will increase by 6.6% come the second half of the financial year 2021.

ThaiBev has shifted its focus to improving its distribution channels to drive sales and has been spending less on advertising, CIMB reported.

The earnings before interest, taxes, depreciation, and amortization margin expansion to 18.7% for the same financial year is also being expected.

ThaiBev's spirits sales were down by 4.6% in the third quarter quarter-on-quarter (QoQ), but beer sales increased by 10.6% QoQ.

"Resilience of Thai alcohol consumption in Jul also gives us comfort that 4QFY21F may not look too bad, despite stricter Covid-19-related measures in Thailand," CIMB said.

Generally, the consumption recovery is headed to happier hours as lockdown measures are easing in operating geographies.

Thai alcohol sales returned to pre-COVID levels in July 2021, although they became weaker on a year-on-year basis. Liquor saw a 10% decrease in sales volume, whilst beer, 21%.

Thailand’s Office of Industrial Economics reported domestic liquor and beer consumption continue to rise every month since July despite the tightened measures. Meanwhile, according to Vietnam’s General Statistics Office said that the country's beer production was badly hit since May with only 262.6m litres sold on 21 August, down 32% from the same period last year due to tightened lockdown measures.

Join Singapore Business Review community
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!

Module integration and completion are not part of its responsibilities.
The company says it will continue to welcome feedback from workers.
OneMap3D data from ERA will be incorporated into its RealtyWatch mobile apps
$500,000 was contributed to the library's Green Grove showcase.
He has over 25 years of experience in business and risk roles.
The country also won 'Best Seaport in Asia' for the 33rd time.
Flight bookings were made available on 22 October.
Sembcorp Industrialshowed the most growth.
Analysts said there are three factors that drove the price growth.
Prices of private residential properties rose by 1.1% in Q3, marking the sixth consecutive quarter of growth.
72% of Singaporeans were aware of the term 'ESG.'
This strong performance was due to the recent acquisitions by the company.