SINGAPORE (Nov 27): Thai Beverage reported FY18 earnings of THB 18.53 billion ($77 million), down 46% from last year.

The F&B group saw tough domestic alcoholic beverage market amid challenging economic conditions and cautious consumers pending, especially among lower income consumers.

This was exacerbated by the high base effect of higher agent sales in Sep 17 as they were positioning for an excise tax hike.

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