
Bottom's up!: ThaiBev's revenue thrived amidst prolonged political unrest
Current political state won't hurt as much.
According to OCBC, Thai Beverage PLC (ThaiBev) is Thailand’s largest and leading beverage producer and distributor.
Its four key product segments are Spirits, Beer, Non-Alcoholic Beverage and Food. ThaiBev has substantial market shares in beverage segments in Thailand, accompanied by pricing power and branding.
Here's more from OCBC:
In addition, ThaiBev has 93 sales offices covering every province of Thailand. This enables faster delivery to the market. Its current stronghold in Thailand will serve as a relatively steady income pillar as it expands beyond Thailand and into other product segments.
We note that ThaiBev’s revenue grew by 2.4% and 12.4% in 2009 and 2010 respectively despite bouts of prolonged political unrests.
Hence, we think the current political unrest’s impact on ThaiBev will not be significant as long as it is contained in terms of area and number of people involved. Meanwhile, we expect ThaiBev to be able to continue executing its long-term strategy.