Revenue in FY17 was flat at THB 190 billion.
EBITDA from business operations rose 3.3% to THB 36.7 billion.
There was also a recognition of Fraser & Neave’s fair value gains on financial assets of THB 8.5 billion.
Thaibev says the kingdom's beverage industry in FY17 was mainly affected by the slowdown in consumption during the mourning period and the implementation of new excise tax act.
Sales from spirits rose 2.6% to THB 109.3 billion due to new product Rock Mountain soda water which was launched in September 2016. EBITDA rose 1.5% to THB 26.9 billion.
Sales from beer fell 4.7% to THB 57.3 billion while EBITDA fell 2% to THB 4.5 billion mainly due to an increase in advertising and promotion expenses.
Sales from non-alcoholic beverages fell 0.9% to THB 16.8 billion but EBITDA swung to THB 209 million from a loss position a year ago.
Sales from its food business rose 1.5% to THB 6.7 billion mainly due to an increase in the number of restaurants. EBITDA however fell 0.8% to THB 643 million.
In its outlook, Thaibev says although growth of the Thai economy has been largely supported by continued imrpovement in exports of goods and services, private consumption has not been fully recovered owing to high levels of household debt and weak purchasing power of low to middle income and farmers in many areas.
Thaibev has increased its full-year dividend payout to THB 0.67/share from THB 0.60/share. As it has paid out an interim dividend of THB 0.20/share on June 9, it will pay the remaining THB 0.47/share on Feb 28, 2018.
Shares in Thaibev closed 1 cent lower at 94 cents.
