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ThaiBev’s dampened spirits

Broker's Calls

ThaiBev’s dampened spirits

Gwyneth Yeo Published on Mon, Nov 21, 2016 / 3:14 PM GMT+8

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SINGAPORE (Nov 21): CIMB has maintained its “add” recommendation for Thai Beverage despite a rather disappointing result from 3QFY16.

CIMB’s analyst Jonathan Seow noted that spirits, the group’s largest business segment, recorded a 7.2% decline in sales, because agents had anticipated an alcohol tax hike and overstocked channels in 1HFY16.

(See: Thai Bev posts 7.4% fall in 9M earnings to $757 mil)

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