Thaibev reports doubling of 3Q earnings to $628 mil

SINGAPORE (Aug 11): Thai Beverage reported a doubling of 3Q17 earnings to 15.3 billion baht ($627.6 million) from 5.9 billion baht.

Gross profit was 14.1 billion baht, an increase of 3% from 13.7 billion baht of the corresponding period of last year. Net profit for spirits rose 2.4% to 4.8 billion baht and net profit for food rose 10.3% to 32 million baht. Net profit for beer fell 33.9% to 606 million baht. Net loss for non-alcoholic beverages narrowed 23.6% to 174 million baht.

There was also a recognition of F&N’s fair value gains on financial assets of 8.5 billion baht.

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