Thai Beverage logs over 7% rise in nine-month profit

Singapore-listed Thai Beverage (ThaiBev) announced a 7.2% increase in nine-month operating earnings on Thursday, driven by growth across all business segments due to strategic marketing and brand investments. The company, which produces well-known Chang beer and Sangsom rum, reported earnings before interest, tax, depreciation, and amortization (EBITDA) of 48.29 billion baht (US$1.46 billion) for the nine months ending June 30, a rise from 45.03 billion baht in the same period last year.

As Southeast Asia's largest beverage group, ThaiBev has been publicly traded on the Singapore Exchange since 2006 and remains a highly valued consumer stock in the city-state. Rumors suggest the company may be exploring the sale of its Kentucky Fried Chicken (KFC) restaurant franchise business in Thailand, with Bank of America Corp assisting in evaluating potential buyer interest.