Thai Beverage's First-Half Net Profit Fell 3.2%
By Ronnie Harui
Thai Beverage's first-half net profit fell 3.2% as a decline in profits at its beer and non-alcoholic beverages businesses due to cost push and brand investments outweighed profits at its spirits business.
Net profit for the six months ended March 31 fell to 17.78 billion baht ($525.3 million) from THB18.37 billion for the same period a year earlier. Revenue grew to THB148.30 billion from THB142.94 billion.
"The company has continued to improve production efficiency across its portfolio despite cost pressures," Thai Beverage said in a filing after the market closed on Thursday.
Thai Beverage proposed an interim dividend of THB0.15 a share, matching its interim dividend in the previous fiscal year.
For the second quarter of its fiscal year, the beverage company's net profit rose 1.5% from a year earlier to THB8.17 billion and revenue increased 2.4% to THB67.40 billion.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
May 11, 2023 20:42 ET (00:42 GMT)
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