Analysts positive on ThaiBev following doubling of 1Q earnings

SINGAPORE (Feb 18): Analysts are generally positive on Thai Beverage (ThaiBev), following the group’s 1Q19 results announcement, which recorded earnings of 7.42 billion baht ($320.8 million), more than doubling from 2.96 billion baht last year.

Total revenue also saw a 59.7% y-o-y jump to 72.63 billion baht, with revenue from spirits growing 28.6% to 31.68 billion bath and beer revenue surging 128.6% to 22.00 billion baht.

Share of profit of investment in associates and joint ventures also doubled to 1.72 billion baht from a year ago.

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