PhillipCapital analyst Paul Chew has downgraded his recommendation on Thai Beverage (ThaiBev) to “accumulate” from “buy” previously as the group’s results for the FY2021 ended Sept 30 stood below Chew’s expectations.

The group reported earnings of 24.64 billion baht ($1 billion) for the year, while revenue stood at 240.54 billion baht.

According to Chew’s estimates, the group’s earnings and revenue for the FY2021 stood at 91% and 90% of his FY2021 forecasts respectively.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook