By Justina Lee
Thai Beverage PCL said its net profit fell 2.2% for the year ended Sept. 30, as sales of some of its businesses were weighed by the Covid-19 pandemic.
Net profit for the year fell to 22.75 billion Thai baht ($751.1 million) from THB23.27 billion.
Total revenue from sales and services fell 5.2% to THB253.48 billion, as weaker sales of its beer, nonalcoholic beverages and food businesses outweighed an increase in sales of its spirits business.
The company said that it has been deleveraging its balance sheet using cash flows from its operations and is also exploring plans to lower its debt level further via other avenues.
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(END) Dow Jones Newswires