THAILAND: ThaiBev boosted by spirits and soft drinks in H1
- H1 net profits leap by 60% to THB9.8bn (US$310.5m)
- Net sales rise by 33.2% to THB82bn
- Operating profit up by 44% to THB12.1bn
- International business posts sales growth of 44%
ThaiBev saw a slowing of losses in its beer business in H1
A strong performance by ThaiBev's spirits and soft drinks business has seen the group report an impressive rise in first-half profits.
Net profits leapt by 60% to THB9.8bn (US$310.5m) in the first six months to June 30, the Thailand-headquartered group reported on Tuesday (14 August). Sales were up 33.2% to THB82bn.
Operating profits were also up a healthy 44% to THB12.1bn in the period.
In Q2, net profits rose from THB3.1bn in 2011 to 5.1bn, as sales rose 35% year-on-year to 41.4bn.
The group attributed its results to a "good performance" in its spirits and soft drinks business, coupled with a narrowing of losses in its beer business.
In H1, net profits in its spirits division rose 42% to THB9bn. Net profits in its soft drinks unit were up 1,608% to THB1.03bn, as this included results for Serm Suk, acquired last October.
In its beer business in H1, sales were up by 9.8% to THB17.3bn. The unit still saw a loss of THB280m, but improved by 20.5% year-on-year.
In international markets, the group reported sales growth of 44%, partly helped by a 20% rise in US sales from growth in Scotch whisky and Chang beer.
ThaiBev is locked in a battle with Heineken over control of Tiger brewer Asia Pacific Breweries (APB). The Thailand firm this week upped its stake in Fraser & Neave, which runs APB with Heineken as a JV, to 26.2%, in a bid to have a say on the Tiger brewer's future.
To read ThaiBev's full results annoucement, click here
To read an in-depth comment piece on ThaiBev's current business, click here
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