By Ronnie HaruiThai Beverage's first-half net profit fell 3.2% as a decline in profits at its beer and non-alcoholic beverages businesses due to cost push and brand investments outweighed profits at its spirits business. Net profit for the six months ended March 31 fell to 17.78 billion baht ($525.3 million) from THB18.37 billion for the same period a year earlier. Thai Beverage proposed an interim dividend of THB0.15 a share, matching its interim dividend in the previous fiscal year. For the second quarter of its fiscal year, the beverage company's net profit rose 1.5% from a year earlier to THB8.17 billion and revenue increased 2.4% to THB67.40 billion. Write to Ronnie Harui at ronnie.harui@wsj.com(END) Dow Jones NewswiresMay 11, 2023 20:42 ET (00:42 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal May 12, 2023 06:53 UTC