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Published on August 10, 2007

In a filing with the Stock Exchange of Thailand yesterday, the company explained that its quarterly sales revenues amounted to Bt941.5 million, down 12.82 per cent from Bt1.08 billion.

A total of Bt460.6 million was generated from the food business and the rest from beverages.

Quarterly revenues from Oishi's food business rose 13 per cent last year, while beverage revenues fell 28.2 per cent. However, the company explained that the significant decline recorded in its fiscal third quarter was attributable largely to a high level of sales in the same period last year, thanks to a successful promotion.

However, quarterly net profits from both food and beverages declined 21.7 per cent and 53.3 per cent year on year to Bt11.4 million and Bt53.3 million, respectively. Sicco Sec-urities recommends investors sell Oishi shares, because of the saturation of green tea.