SHARES in Thai Beverage Public Company Limited faced a heavy sell-off in the early session after posting second quarter results, where its bottom line fell 12 per cent to 5.79 billion baht .
ThaBev attributed the fall in net profit to a poorer showing in the spirits business, food business and its mainboard-listed units, Fraser and Neave and Frasers Property. "While we continue to expect these positive synergies from the Sabeco acquisition to flow through to ThaiBev’s bottom line, we note that this will require time to bear fruit," she said.
Other research houses have maintained their calls on ThaiBev after it posted earnings for the second quarter on Friday."We continue to be comforted by the year-on-year improvement in the domestic consumption environment, as well as improvement in Sabeco’s operational matrices," Ms See said.