English French Dutch Spanish German Russian Italian Portuguese Portuguese Danish Greek Ukrainean Chinese Polish Korean
Logo Slogan_English

CASTLE MALTING NEWS in partnership with www.e-malt.com
08 October, 2018

Brewing news Thailand: ThaiBev could reap benefits from rising consumer confidence in Thailand

Consumption volume for alcohol products could soon recover, the Singapore Business Review reported on October 7.

ThaiBev could reap the benefits from the rising consumer confidence in Thailand, UOB Kay Hian (UOBKH) said.

According to the University of the Thai Chamber of Commerce (UTCC), the consumer confidence index climbed to 83.2 in August from 80.1 in May, making the index reach its five-year high due to the rising exports, tourism, and farm prices in produce such as fruits, corn, and tapioca.

“Although we are cautious of the near-term impact, we expect consumption volume for alcohol products to recover in the mid-term,” the research firm said.

In Q3, the firm's earnings in the spirit business crashed 15.6% to $166.09 mln due to lower sales revenue. Overall profit plunged 61% YoY to $247.72 mln.

UOBKH believes that the rising consumer confidence in Thailand will likely spread further towards rural communities with rising agriculture exports paired with the election slated by February.

They added that ThaiBev could look towards cost savings from its newly integrated business units including Sabeco and Myanmar Spirits.

“We remain positive on the group’s ability to turn around underperforming business segments, as well as a renewed management focus into the beer business segment,” UOBKH said.

In September, ThaiBev added two new senior positions to its management appointments that were filled by internal personnel as they push to increase value creation and business benefits.


E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .