ThaiBev's net profit jumps 12% on back of skyrocketing beer sales

Beer profits surged by 153.3%.

ThaiBev’s shareholders must be popping beer cans open to celebrate  the company’s stellar results for the second quarter. The company reported a 12% jump in net profit, thanks to a stunning surge in beer sales for the quarter.

ThaiBev’s net profit reached Baht 589 million ($23m), due to a 19.3% increase in net profit of the spirits business, and a 153.3% jump in net profits of its beer business. The company also reported a 13.0% decrease in net loss of the non-alcoholic business.

Total beer sales volume was pegged at 145.5 million liters, a decrease of 3.5% from last year. However, higher beer prices and declining material costs lifted total revenue for this segment.

Here’s more from ThaiBev:
For the first six months of 2014, total sales revenue of the Company was Baht 81,068 million, an increase of 6.7% or Baht 5,080 million, from Baht 75,988 million of the corresponding period of last year, due to an increase in the sales of the spirits business of 11.4%, the beer business of 7.0% and the food business of 6.1% although there was a decrease in sales revenue from the non-alcoholic beverages business of 16.4%.

Gross profit was Baht 24,024 million, an increase of 13.9% or Baht 2,936 million, from Baht 21,088 million of the corresponding period of last year, due to an increase in gross profit of the spirits business of 15.6%, the beer business of 41.8% and the food business of 5.6% although there was a decrease in the non-alcoholic beverages business of 16.8%.