Thai Beverage's Annual Profit Slips on Rising Marketing Costs

Reuters11-22

Singapore-listed Thai Beverage TBEV.SI reported a full-year profit on Thursday that fell 1%, hurt by a slowdown at the company's spirits and food businesses due to rising marketing costs.

ThaiBev, one of Southeast Asia's largest beverage makers, reported a profit attributable of 27.22 billion baht ($785.3 million) for the year ended Sept. 30, compared with 27.43 billion baht a year earlier.

The company's spirits business reported a profit attributable of 20.77 billion baht for the year, down 6%, due to an increase in marketing costs and raw material prices.

ThaiBev also announced a final dividend of 0.47 baht per share for the year.

($1 = 34.6600 baht)

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