Highlights

SGX Stocks and Warrants

Author: kimeng   |   Latest post: Fri, 1 Dec 2017, 02:18 PM

 

Thai Beverage: 1QFY17 results within expectations

Author:   |    Publish date:


Thai Beverage PLC’s (ThaiBev) 1QFY17 results were broadly within our expectations amid a weaker consumer environment and promotional activities were postponed due to the mourning period in Thailand. Keep in mind that 4QCY16 is typically the peak season.

Revenue was down 8% YoY to THB46.8b, forming 24% of our FY17F estimate, as sales declined across the segments – Spirits (-11%), Beer (-4.6%), Non-alcoholic Beverages (-1.3%) and Food (-1.0%).

Spirits’ net profit was also down 8% to THB5.1b as trade activities did not resume right after the first 30 days suspension of entertainment activities, which was encouraged by the government.

Nonetheless, on a broader picture, lower selling and administrative expenses, higher net profit of beer business and share of profit from associates helped PATMI increase 28% to THB7.7b to constitute 29% of our full year estimate.

Pending more information from the analyst briefing this evening, we are keeping our BUY rating, with fair value estimate of S$1.01 unchanged for now.

Source: OCBC Research - 15 Feb 2017

Share this
Labels: ThaiBev

Related Stocks

Chart Stock Name Last Change Volume 
ThaiBev 0.955 +0.005 (0.53%) 2,827,000 

Market Buzz

Date Type Subject
12-Dec-2017 Announcement Request for Trading Halt::Request for trading halt

  Be the first to like this.
 


 

187  126  204  578 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 Infinio Group 0.003+0.001 
 Midas 0.115+0.013 
 Jiutian Chemical 0.065+0.003 
 Allied Tech^ 0.068-0.001 
 Cosco 0.45+0.005 
 Noble 0.210.00 
 Rowsley 0.113+0.001 
 MagnusEnergy 0.0010.00 
 Vallianz 0.0130.00 
 Noble Group 0.19+0.048 
Partners & Brokers