Thai Beverage Public Company Limited (ThaiBev) posted a profit attributable to shareholders of THB 14.24 billion for the six months ended 31 Mar, a 3.2 per cent year-on-year (YoY) decline that the group said reflected weaker contributions from its non-alcoholic beverage and food businesses, partly offset by firmer performances in the beer and spirits segments.

Earnings per share came in at THB 0.57, compared with THB 0.59 a year earlier. The board declared an interim dividend of THB 0.15 a share, unchanged from the previous year, payable in June 2026 to shareholders on record.

Total income slipped 2.7 per cent YoY to THB 174.75 billion. By segment, pre-tax earnings (before a non-recurring impairment) were as follows: • Spirits THB 14.70 billion, up 8.0 per cent • Beer THB 6.20 billion, up 45.8 per cent on higher volumes in Vietnam and Myanmar • Non-alcoholic beverages THB 3.51 billion, down 8.8 per cent as domestic soft-drink demand moderated • Food THB 0.19 billion, down 44.4 per cent • Others recorded a pre-tax loss of THB 0.07 billion, narrowing from THB 0.26 billion

Group finance costs fell 12.9 per cent YoY to THB 3.71 billion following the repayment of certain high-cost borrowings, while distribution and administrative expenses were broadly flat at THB 31.0 billion.

The six-month results include a THB 1.72 billion non-cash impairment on a discontinued joint-venture operation, which reduced profit before tax to THB 22.80 billion. Excluding this charge, pre-tax profit rose 13.2 per cent YoY to THB 24.52 billion.

Segment highlights showed spirits contributing 37 per cent of revenue and 60 per cent of pre-tax earnings, while beer accounted for 36 per cent of revenue and 25 per cent of pre-tax profit. Non-alcoholic beverages represented 18 per cent of revenue but just 14 per cent of pre-tax profit, underscoring margin pressure in that unit.

ThaiBev continued to invest in capacity expansion, spending THB 6.39 billion on capital expenditure during the half, mainly on brewing facilities and supply-chain automation.

Looking ahead, management reaffirmed its focus on cost discipline and brand investments to defend market share amid a “challenging but improving” consumption outlook in key ASEAN markets. The group also signalled it would maintain a “prudent” capital structure after reducing net debt by THB 5.8 billion during the period.