Thai Beverage reports 61% fall in 3Q earnings to S$248 mil

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SINGAPORE (Aug 14) Thai Beverage PLC reported 3Q earnings fell 60.7% to THB 6 billion (S$248 million) from a year ago, due to lower profit from spirits and beer, higher losses from non-alcoholic beverages and lower income contribution from Fraser and Neave and Frasers Property (F&N/FPL).

For the 3Q ended June, revenue rose 34.1% to THB 60.8 billion, due to higher sales of beer and food to be offset by lower sales in spirits and non-alcoholic beverages.

Net profit from F&N/FPL was 80.9% lower at THB 1.9 billion, due to the absence of recognition of fair valuation gains on financial asset of...(click on link for full story on theedgesingapore.com)