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Thai Beverage profit beats consensus by 18.3% in fiscal Q4

Thai Beverage PCL said its normalized net income for the fiscal fourth quarter ended Sept. 30 amounted to 15 satang per share, compared with the S&P Capital IQ consensus estimate of 13 satang per share.

EPS rose 18.4% year over year from 13 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.78 billion baht, an increase of 18.4% from 3.20 billion baht in the prior-year period.

The normalized profit margin fell to 8.0% from 8.3% in the year-earlier period.

Total revenue grew 23.2% on an annual basis to 47.50 billion baht from 38.56 billion baht, and total operating expenses increased 18.2% on an annual basis to 41.08 billion baht from 34.75 billion baht.

Reported net income increased 11.1% year over year to 5.02 billion baht, or 20 satang per share, from 4.52 billion baht, or 18 satang per share.

For the year, the company's normalized net income totaled 98 satang per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.08 baht.

EPS rose from 74 satang in the prior year.

Normalized net income was 24.65 billion baht, a gain from 18.48 billion baht in the prior year.

Full-year total revenue totaled 190.46 billion baht, compared with 190.67 billion baht in the prior year, and total operating expenses declined on an annual basis to 162.42 billion baht from 164.18 billion baht.

The company said reported net income increased year over year to 34.40 billion baht, or 1.37 baht per share, in the full year, from 24.86 billion baht, or 99 satang per share.

As of Nov. 23, US$1 was equivalent to 32.67 baht.