China Mengniu Dairy hits 7-week low as profit dips

China Mengniu Dairy

27/03/2024 02:04

** Shares of China Mengniu Dairy  2319.HK  fall 9.1% to
HK$17.24, their lowest since Feb. 6, and on course for fourth
consecutive session of decline
    ** Stock marks the biggest one-day pct drop since October
2022; biggest pct loser in Hang Seng Index  .HSI , Hang Seng
Commerce & Industry Index  .HSNC  and Hang Seng China
Enterprises Index  .HSCE  
    ** Chinese dairy products group says its 2023 net profit
down 9.3% YoY to 4.81 bln yuan ($666.4 mln) while revenue up
6.5% YoY to 98.6 bln yuan    
    ** Hang Seng Commerce & Industry Index  .HSNC  eases 1.1%,
Hang Seng China Enterprises Index  .HSCE  falls 1.1% and Hang
Seng Index  .HSI  down 0.7%
    ** Stock down 17.3% YTD  
    ($1 = 7.2176 yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))