ThaiBev maintains profit
Thai Beverage Plc, the leading producer and distributor of alcoholic beverages in Thailand and the rest of Southeast Asia, showed a first-half net profit of Bt5.1 billion, about the same as the same period last year.
The group's operating revenues for the first half increased 2 per cent to Bt46.6 billion on satisfactory sales turnover in both beer and spirits, compared with Bt45.5 billion in the same period last year. "During the first half of 2006, ThaiBev's sales revenue for spirits was similar to that in the corresponding period of 2005, as lower sales volume in brown spirits was compensated by higher prices, attributable to the increased excise on spirits in Thailand imposed late last year. The full effect of the increased excise tax is, however, only being felt this year," said Thapana Sirivadhanabhakdi, ThaiBev's director and executive vice president. This resulted in ThaiBev's first-half 2006 net profit decreasing marginally to Bt5.1 billion. Thapana said the situation was still acceptable. ThaiBev's recent launch of Chang Light, a premium beer under the company's strategy of promoting premium products, as well as bottled Chang Draught, is offering new opportunities for ThaiBev to enter different market segments and penetrate international markets. "ThaiBev has had a satisfactory year in 2006. We're pleased with our overall performance. ThaiBev continues to sharpen its strategic focus on being Asean's leading producer and distributor of beer and spirits," Thapana said.
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