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Thai Beverage profit beats consensus by 19.3% in fiscal Q1

Thai Beverage PCL said its normalized net income for the fiscal first quarter ended Dec. 31, 2016, amounted to 23 satang per share, compared with the S&P Capital IQ consensus estimate of 19 satang per share.

EPS climbed 25.8% year over year from 18 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.69 billion baht, an increase of 25.7% from 4.53 billion baht in the year-earlier period.

The normalized profit margin rose to 12.1% from 8.8% in the year-earlier period.

Total revenue fell 8.2% on an annual basis to 46.95 billion baht from 51.15 billion baht, and total operating expenses decreased 11.6% on an annual basis to 39.38 billion baht from 44.52 billion baht.

Reported net income increased 27.9% from the prior-year period to 7.71 billion baht, or 31 satang per share, from 6.03 billion baht, or 24 satang per share.

As of Feb. 14, US$1 was equivalent to 35.03 baht.