Singapore, May 11 - Singapore-listed Thai Beverage PCL , Thailand's largest brewer, said on Friday that its first-quarter net profit rose 13 percent due to higher beer sales.
Thai Beverage, which makes Chang Beer and Mekhong whisky, said in a statement that it earned a net profit of 2.88 billion baht ($84 million) in the three months to March 31, up from 2.54 billion baht a year earlier. Quarterly sales rose 11 percent to 26 million baht.
Thai Beverage shares have fallen 5.5 percent this year, compared to a 16 percent rise in Singapore's benchmark Straits Times Index.