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Thai Bev Q2 net profit slips 4.9% on lower contribution from associate companies and decline in food business

Profit from associated companies decreased by 82.9% and the food business had a drop of 528.6%

Thai Beverage posted a net profit attributable to shareholders of $258.31m (THB6.993b) in the second quarter ending 31 March 2024, a drop of 4.9% compared to the previous year due to lower profits from associated companies and food business.

Profit from associated companies decreased by 82.9% and the food business had a drop of 528.6%. This was partially offset by Thai Beverage's Q2 net profit from its non-alcoholic beverages business (+81.3%), beer business of (+35.1%) and spirits business of (+2.3%.)

ALSO READ: F&B sales growth eases to 5.0% YoY in March

Meanwhile, the attributable profit to shareholders for the six months ended 31 March 2024 decreased by 5.6% This was due to a decrease in attributable profit to shareholders of the Company of spirits business of 0.8%, food business of 61.8% and associated companies of 58.8%, partly offset by an increase in attributable profit of beer business of 21% and non-alcoholic beverages business of 133.1%.

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