F&N major stakeholder Thai Beverage reports 74.5% drop in Q3 net profit

Earnings fell for Singapore-listed drinks company Thai Beverage for the third quarter by 74.5 per cent to 4.08 billion baht (S$161.1 million). -- FILE PHOTO: BLOOMBERG
Earnings fell for Singapore-listed drinks company Thai Beverage for the third quarter by 74.5 per cent to 4.08 billion baht (S$161.1 million). -- FILE PHOTO: BLOOMBERG

EARNINGS fell for Singapore-listed drinks company Thai Beverage for the third quarter by 74.5 per cent to 4.08 billion baht (S$161.1 million).

Revenue fell to 6.8 per cent to 35.04 billion baht for the three months to Sept 30.

This was due to a drop of net profit from Fraser & Neave (F&N).

ThaiBev acquired a 29 per cent in F&N in the same period last year, and starting from the third quarter last year, F&N operating results are recognised in the consolidated financial statement.

The net profit was also affected by a decrease in spirits, non-alcoholic beverage, and the food business.

Earnings per share was 0.16 baht, while net asset value per share was 3.46 baht.