ThaiBev Q3 net profit surges 162% on F&N's fair value gains

SINGAPORE - Thai Beverage Public has posted a net profit of 15.2 billion baht (S$622.8 million) in the third quarter, up 162 per cent from the same period a year earlier.

A bulk of this arose from recognition of F&N's fair value gains on financial assets of 8.5 billion baht.

Excluding the fair value gain, net profit would have risen 15 per cent to 6.8 billion baht, owing to higher takings from the spirits and food businesses, as well as F&N/FCL.

This was slightly offset by a lower net profit for the beer business and an increase in net loss of non-alcoholic beverages business.

Revenue in the three months to June 30 was 45.3 billion baht, down 0.4 per cent from a year earlier due to a fall in sales of beer, non-alcoholic beverages, and food due to the continual effects from the mourning period in Thailand, although there was an increase in sales of spirits, the group said.

Earnings per share was 0.61 baht, up from 0.23 baht a year ago.

Net asset value per share was 4.94 baht as at June 30, up 3.3 per cent from 4.78 baht as at Sept 30 last year.