THAILAND: ThaiBev Q1 sales, profits rise
- Q1 net profits rise by 12% to THB2.98bn (US$98.3m)
- Operating profits up by 12% to THB4.19bn
- Net sales rise by 4% to THB31bn
Chang brewer ThaiBev's sales and profits improve in Q1
Thai Public Beverage Co (ThaiBev) has reported increases in both first-quarter sales and profits, but the group's beer business has remained in the red.
Higher consumer demand for ThaiBev spirits, soft drinks and food helped the Thailand-based drinks group to increase net sales by 4% for the three months to the end of March, to THB31bn. This, together with lower costs, helped the group to increase net profits for the quarter by 12%, to THB2.98bn, it said today (17 May).
Beer was the weakspot in ThaiBev's set of results. Beer sales fell by 4% for the three months, THB8.15bn, despite double-digit volume gains for Chang beer in the US market. The group's beer division also remained in the red for the quarter, albeit with a 29% reduction in net losses from the same period of 2010, to THB265m.
Spirits sales rose by 6% to THB20.1bn, while soft drinks sales increased by 9% to THB1.7bn.
To read the company's announcement, click here.
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