Thai Beverage share price plummeted by almost 10% the following day after the release of their 2nd quarter financial performance (ending 31 March 2019) to as low as S$0.735 per share from S$0.825 per share. This seems to be a knee jerk reaction to the unfavourable results for 2nd quarter relative to the previous financial period. However, the fact of the matter is that if I recall correctly, Thai Beverage is coming off from an abnormally highly skewed profit base for Q2 2018 which was mainly before the additional excise tax came in for acholic drinks hence agents and retail outlets were stocking up as much as possible before the new measurement and price increase in April 2018 by Thai Beverage.
A better gauge of their financial performance should be for at least 6mths. Thai Beverage 1st half results were still 11.3% better overall than prior financial period albeit