Thai Beverage annual profit falls 9% on weakness in beer, food units (updated)

Thai Beverage Public

22/11/2023 14:56

(Adds details on results in paragraphs 2-6)
       Nov 22 (Reuters) - Singapore-listed Thai Beverage
 TBEV.SI  reported an annual profit on Wednesday that fell
nearly 9%, hurt by weakness in the company's beer and food
businesses.
    Higher costs of raw materials and packaging, increased brand
investment and competitive pressures weighed on the company's
beer business, Thai Beverage said.
    The company's food business was impacted by higher operating
expenses, administrative costs and pre-operating expenses
related to opening of new stores, it said.
    Thai Beverage posted profit attributable of 27.43 billion
baht ($780.81 million) for the full year ended Sept. 30,
compared with 30.11 billion baht a year earlier.
    The company's total revenue from sales and services rose to
279.09 billion baht from 272.36 billion baht.
    Thai Beverage proposed an annual dividend of 0.60 baht per
share, in line with last year. 

 ($1 = 35.1300 baht)

 (Reporting by John Biju in Bengaluru; Editing by Shounak
Dasgupta)
 ((John.Biju@thomsonreuters.com))