Thai Beverage saw its revenues fall more than 2% in the first half of its fiscal year, dented by lower beer and soft-drinks sales.
However, the Chang beer owner did report growing sales in its second quarter as its brewing business regained some momentum.
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The group’s profit numbers reflected a similar picture, with first-half earnings down but growth in the second quarter.
ThaiBev’s spirits business saw sales rise in the opening three months of its fiscal year but a decline in the second quarter amid “softer domestic consumption”.
According to local reports earlier this week, the Thai government has set out eight zones where the consumption of alcohol is now banned. The zones include railway stations, on trains and in public parks.
In the six months to the end of March, ThaiBev generated revenue of Bt173.22bn, down 2.5% on a year earlier.
First-half attributable net profit fell 3.2% to Bt14.25bn, although underlying net profit climbed 7.8% to Bt19.16bn.
In the second quarter, revenue rose 1.4% to Bt86.52bn. Attributable net profit grew 9.4% to Bt7.37bn.
ThaiBev’s beer division, which accounted for 36.2% of the company’s first-half revenue, saw its half-year sales declined 5.4% due to “subdued market conditions” in Thailand and poor weather in Vietnam. Second-quarter sales rose 5.4% as volumes improved.
