ThaiBev’s net profit slips 0.8% YoY in FY2024

The decline was attributed to a downturn in its spirits and food businesses.

ThaiBev’s FY2024 net profit slipped 0.8% year-on-year (YoY) to $1.05b (THB27.2b) from $1.06b (THB27.4b) a year ago.

The decline was due to YoY decreases in the net profit of the company’s spirit and food businesses which fell 5.8% and 72.5% respectively.

The net profit decline in the spirit business was due to an increase in promotional expenses, higher finance costs, and tax expenses whilst the decline in the food business was due to higher operating expenses.

Revenue for the period rose 2.2% YoY to $1.32b (THB34.2b) driven by increased sales across all beverage and food segments.

Earnings per share stood at $0.045 (THB1.15), up from $0.042 (THB1.09) in the previous year.

The company declared a final dividend of $0.018 (THB0.47) per share.

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