Thai Beverage's 2H Growth Likely Supported by Raw Material Costs, Base Effects -- Market Talk

Dow Jones

05/15

0110 GMT - Thai Beverage's 2H earnings growth could be supported by reduced raw material costs and a low base effect, says DBS Group Research's Zheng Feng Chee in commentary. The Singapore-listed beer maker's 1H results pleasantly surprised the analyst despite marginally softer revenue, given Thailand's weak consumer environment. While Thailand's macro environment remains challenging due to cost of living pressures and elevated oil prices, he expects stronger 2H results for Thai Bev given material costs are hedged, a low base thanks to last year's Thai-Cambodia border conflict and warmer weather. The stronger beer volume performance in 2Q also bodes well for ThaiBev's potential BeerCo initial public offering, he adds. DBs retains a buy rating and S$0.62 target price. Shares rise 2.4% to S$0.43. (megan.cheah@wsj.com)

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May 14, 2026 21:10 ET (01:10 GMT)

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The Singapore-listed beer maker's 1H results pleasantly surprised the analyst despite marginally softer revenue, given Thailand's weak consumer environment. While Thailand's macro environment remains challenging due to cost of living pressures and elevated oil prices, he expects stronger 2H results for Thai Bev given material costs are hedged, a low base thanks to last year's Thai-Cambodia border conflict and warmer weather. The stronger beer volume performance in 2Q also bodes well for ThaiBev's potential BeerCo initial public offering, he adds. DBs retains a buy rating and S$0.62 target price. Shares rise 2.4% to S$0.43. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 14, 2026 21:10 ET (01:10 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thai Beverage's 2H Growth Likely Supported by Raw Material Costs, Base Effects -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThai Beverage's 2H Growth Likely Supported by Raw Material Costs, Base Effects -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-15 09:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0110 GMT - <a href=\"https://laohu8.com/S/Y92.SI\">Thai Beverage</a>'s 2H earnings growth could be supported by reduced raw material costs and a low base effect, says DBS Group Research's Zheng Feng Chee in commentary. The Singapore-listed beer maker's 1H results pleasantly surprised the analyst despite marginally softer revenue, given Thailand's weak consumer environment. While Thailand's macro environment remains challenging due to cost of living pressures and elevated oil prices, he expects stronger 2H results for Thai Bev given material costs are hedged, a low base thanks to last year's Thai-Cambodia border conflict and warmer weather. The stronger beer volume performance in 2Q also bodes well for ThaiBev's potential BeerCo initial public offering, he adds. DBs retains a buy rating and S$0.62 target price. Shares rise 2.4% to S$0.43. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 14, 2026 21:10 ET (01:10 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6080","symbol_name":"酿酒商与葡萄酒商","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2635136778","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2635136778","pubTimestamp":1778807400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0110 GMT - Thai Beverage's 2H earnings growth could be supported by reduced raw material costs and a low base effect, says DBS Group Research's Zheng Feng Chee in commentary. The Singapore-listed beer maker's 1H results pleasantly surprised the analyst despite marginally softer revenue, given Thailand's weak consumer environment. While Thailand's macro environment remains challenging due to cost of living pressures and elevated oil prices, he expects stronger 2H results for Thai Bev given material costs are hedged, a low base thanks to last year's Thai-Cambodia border conflict and warmer weather. The stronger beer volume performance in 2Q also bodes well for ThaiBev's potential BeerCo initial public offering, he adds. DBs retains a buy rating and S$0.62 target price. Shares rise 2.4% to S$0.43. 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The Singapore-listed beer maker's 1H results pleasantly surprised the analyst despite marginally softer revenue, given Thailand's weak consumer environment. While Thailand's macro environment remains challenging due to cost of living pressures and elevated oil prices, he expects stronger 2H results for Thai Bev given material costs are hedged, a low base thanks to last year's Thai-Cambodia border conflict and warmer weather. The stronger beer volume performance in 2Q also bodes well for ThaiBev's potential BeerCo initial public offering, he adds. DBs retains a buy rating and S$0.62 target price. Shares rise 2.4% to S$0.43. 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