SINGAPORE (May 14): Thai Beverage announced 2Q20 earnings of 5.0 billion Baht ($221 million), a 14.5% drop from 5.8 billion Baht in 2Q19.

This came on the back of a 12.3% fall in revenue to 61.4 billion Baht from 70.0 billion Baht a year ago.

As cost of sales fell 14% y-o-y to 42.8 billion Baht, gross profit for 2Q20 came in at 18.6 billion Baht, a decrease of 8.8%, from 20.4 billion Baht of last year.

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