Negative Short-term Factors Depress ThaBev’s Nine-Month Financials

A number of trends and events have combined to depress both alcoholic and nonalcoholic product sales of Thailand-based food and beverage company ThaiBev. Nine-month sales slid six percent to $4.3 billion, thanks to sluggish economic growth; a year-long mourning period that depressed beer sales after the death of King Bhumibol last October; a new alcohol excise tax; and a sugar tax on sweetened drinks. Company execs are optimistic about the coming year because of strong fundamentals and growth from neighboring countries. The company hopes to further growth by expansion into the food business.