ThaiBev full-year sales boosted by spirits

Thai Beverage Public Company has reported a net profit increase of 38.5% in its 2017 full-year results, with a “solid performance” from its spirits segment.

In the 12 months from 1 October 2016 to 30 September 2017, total sales revenue dropped -0.02% to Baht 189,997 million, attributed to a full year of mourning after the King of Thailand passed away in October last year.

Within the spirits segment, net profit rose to 20,420 baht up by 2.1% from 19.995 baht. The company produces the country’s most famous spirit Mehkong, as well as Sangsom rum and whisky-based spirits Crown 99 and Blue.

In the International Business division, international spirits revenue reported a negative growth of 15.9%, mainly impacted by the currency translational impact in sterling.

The group also said that performance in the Chinese spirits market “remained weak”, impacted by a “tough and competitive” market.

Sales growth in its whisky core brands – Blend 285, Crown 99 and Drummer – were maintained, particularly in UK, Russia and France. Bulk whisky sales “continued to grow especially” in North Asia.

The group said that while “full-year performance for OEM brands remained weak, it has no significant impact to the profitability”.

The company acquired a 75% stake in Myanmar Distillery Company, the producer of Grand Royal whisky, in October this year.