ThaiBev's full-year profit up 38.5% to $1.44b

But sales revenue slightly fell to $7.9b due to weaker beer business.

Thai Beverage Public Company Limited's (ThaiBev) net profit for 2017 hit $1.44b (THB34.68b), an increase of 38.5% or $401.11m (THB9.65b) from $1.04b (THB25.03b) of last year.

According to its annual report, this was due to an increase in net profit of spirits business of 2.1%, food business of 18.2%, and Fraser & Neave (F&N) and Frasers Centrepoint Limited (FCL) of 265.2%, and a decrease in net loss of non-alcoholic business of 45.5%, albeit there was a decrease in net profit of beer business of 4.1%.

Net profit excluding F&N and FCL hit $948.02m (THB22.8b), up 4.7% from $905.61b (THB21.78b) in 2016.

However, ThaiBev's sales fell by $1.5m (THB36m) or 0.02% to $7.9b (THB190b), no thanks to weaker sales in its beer business, which fell 4.7%.

Sales of non-alcoholic beverages also dipped 0.9%, albeit there was an increase in sales of spirits business of 2.6% and food business of 1.5%.

ThaiBev changed their fiscal year from 1 January to 31 December to 1 October to 30 September.