SINGAPORE (Aug 14) Thai Beverage PLC reported weaker than expected 3Q earnings of THB 6 billion ($248 million) which was 60.7% lower compared to a year ago.

This was largely due to the absence of fair value gains amounting to THB8.5 billion recognised a year ago by associate F&N on an investment in Vinamilk.

Excluding that, core net profit would have declined by 11% y-o-y to THB6 billion, largely due to weaker than expected performance from its spirits business.

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