ThaiBev profit surges 40% to $570.3m in H1

Its food business saw the highest revenue increase to $163.3m in Q2.

ThaiBev profits rose 40% YoY to $570.3m (฿13.2b) in the first half of 2019 from $406.4m (฿9.4b) in 2018, an announcement revealed. Revenues also rose 26% to $6.16b (฿142.6b) from $4.88b (฿113.1b).

In Q2, profits dipped 12% YoY from $284.8m (฿6.59b) to $250.1m (฿5.79b), amidst lower attributable profits in the spirits, food and F&N/FPL segments.

Revenues rose 4% YoY in Q2 to $3.02b (฿70b) from $2.92b (฿67.6b) in 2018 due to an increase in sales of beer business, non-alcoholic beverages business and food business.

Beer rose 13.3% in Q2 to $1.32b (฿30b) whilst the non-alcoholic beverages segment saw its revenues rise 9% to $192.4m (฿4.46b). Revenue from the food business also grew 10.5% to $163.3m (฿3.78b).

The only weakening segment was the spirits business whose revenues fell 5.8% to $1.34b (฿31.1b) in Q2.