ThaiBev’s net profit dipped 10% to $143m in Q3

Earnings slipped 11.5% to $232m.

ThaiBev today reported a 10% decline in its net profit for the third quarter, which fell to $143.2m (Baht 3,634m) from $158.8m (Baht 4,030m) in the same quarter last year.

The decline was due to a 2.3% decrease in net profit of the spirits business, a 173.9% profit decline in its food business ,and a 3.8% increase in net loss in its non-alcoholic business.

ThaiBev’s bottomline was also impacted by capital reduction from Fraser and Neave and the demerging of Frasers Centrepoint. Excluding F&N and FCL, ThaiBev’s net profit for Q3 would have been $150m.

The Group’s earnings slipped 11.5% year-on-year to $232m (Baht 5,890m).

Here’s more from ThaiBev:

For the third quarter ended 30 September 2014, total sales revenue of the Company was Baht 35,276 million, an increase of 0.7% or Baht 235 million, from Baht 35,041 million of the same quarter of last year, due to an increase in sales revenue of the beer business of 15.5%, the non-alcoholic beverages business of 4.0% and the food business of 13.1% although there was a decrease in sales revenue of the spirits business of 4.8%.

Gross profit was Baht 10,392 million, an increase of 4.1% or Baht 408 million, from Baht 9,984 million of the same quarter of last year, due to an increase in gross profit of the beer business of 30.0%, the non-alcoholic beverages business of 25.3% and the food business of 0.5% although there was a decrease in gross profit of the spirits business of 1.5%.

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