- We believe Thai Beverage (SGX:Y92) is poised for a valuation re-rating as value is unlocked in its underappreciated beer and F&B segments.
FY24 revenue increased 2.2% y-o-y while earnings declined a marginal 0.8% y-o-y vs restated FY23 results.
- - Read this at SGinvestors.io -
- While earnings fell slightly by 0.8% y-o-y, Thai Beverage's final dividends of THB0.47 was slightly above our expectations of THB0.46 and represents a 4% y-o-y increase. We believe this is a positive signal of management’s commitment to improve shareholder returns.
Spirits
Brown spirits performance disappointed but showing early signs of recovery.
- - Read this at SGinvestors.io -
Spirits margin to improve on lower price for molasses.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Zheng Feng CHEE DBS Group Research | Andy SIM CFA DBS Group Research | https://www.dbs.com/insightsdirect/ 2024-11-22
Previous report by DBS:
2024-11-12 Thai Beverage - Something Bigger Brewing Behind Corporate Actions.
Price targets by other brokers at Thai Beverage Target Prices.
Listing of research reports at Thai Beverage Analyst Reports.
Relevant links:
Thai Beverage Share Price History,
Thai Beverage Announcements,
Thai Beverage Dividends & Corporate Actions,
Thai Beverage News Articles
