Thai Beverage in high spirits as improved alcohol sales lift earnings

A worker inspects boxes of Thai Beverage (ThaiBev) Chang beer at the company's Beer Thip brewery in Bang Ban, Ayutthaya province, Thailand, on Friday, Oct 5, 2012. -- PHOTO: BLOOMBERG
A worker inspects boxes of Thai Beverage (ThaiBev) Chang beer at the company's Beer Thip brewery in Bang Ban, Ayutthaya province, Thailand, on Friday, Oct 5, 2012. -- PHOTO: BLOOMBERG

SINGAPORE - Better sales in its alcohol business helped to lift earnings at food and drink maker Thai Beverage.

Net profit for the full-year ended Dec 31 rose 13 per cent to 21.7 billion baht (S$904 million), as revenue rose 4 per cent to 162 billion baht.

The firm said revenue at its spirits business rose 4.7 per cent to 104.6 billion baht mainly due to an increase of sales price.

Its beer business saw turnover go up 6.9 per cent to 35.2 billion baht, also on higher prices.

Earnings per share was 0.86 baht, up from 0.76 baht previously, while the net asset value per share was 4.03 baht, up from 3.75 baht.

The company has proposed a final dividend of 0.46 baht per share, above the 0.3 baht per share in the previous year.

ThaiBev said overall consumption in Thailand in the first half of last year was impacted by political events as well as an increase in excise tax introduced at the end of 2013.

But it saw a gradual recovery in the second half of the year as the political situation stabilised.