By Justina Lee
Thai Beverage PCL shares rose Monday, after posting higher net profit for its fiscal year that was supported by stronger contributions across its business segments due to easing pandemic and travel restrictions.
Shares rose by as much as 3.3% to 0.63 Singapore dollars and were recently 2.5% higher.
The beverage company reported a 22% rise of net profit in its fiscal year ended Sept. 30 to 30.11 billion baht ($842.7 million).
Revenue rose 13% to THB272.36 billion.
ThaiBev proposed a final dividend of THB0.45 a share, which was higher than the final dividend of THB0.35 the previous year.
"The continued recovery of the Thai economy in FY2022 was driven by a gradual improvement in economic activity, as well as the relaxation of travel restrictions in Thailand and other countries," the company said in a filing after the market closed on Friday.
Write to Justina Lee at justina.lee@wsj.com
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