SINGAPORE (Feb 14): Thai Beverage reported a 62% fall in 1Q earnings to THB2.91 billion ($122 million) from THB7.71 billion on one-off expenses of THB2.35 billion related to acquisitions in this quarter and finance costs linked to the Sabeco acquisition.
Total revenue dipped 3% to THB45.97 billion from THB46.99 billion.
Sales of spirits business increased 5.8% to THB24.8 million even though sales agents in Thailand reduced their purchase orders after the announcement of an excise tax hike in September 2017 as a result of the acquisition of the Grand Royal Group in October 2017.
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