Budweiser Brewing Company APAC hits 9-month low as H1 profit falls

China Resources Beer Holdings

03/08/2023 04:09

** Shares of Budweiser Brewing Company APAC Ltd  1876.HK 
fall as much as 7.2% to HK$16.92, their lowest since Nov. 1,
2022; on course for third consecutive session of decline
    ** Stock is biggest pct loser in Hang Seng Index  .HSI ,
Hang Seng Commerce & Industry Index  .HSNC  and Hang Seng
Composite Index  .HSCI  
    ** The brewer says its H1 profit attributable to equity
holders down 8.2% YoY to $575 mln while revenue up 6.2% YoY to
$3.67 bln 
    ** Hong Kong shares of Chinese rivals Tsingtao Brewery
 0168.HK  fall 1% and China Resources Beer  0291.HK  slip 0.3%  
    ** Hang Seng Commerce & Industry Index  .HSNC  and Hang Seng
Consumption Index  .HSCGSI  each eases 0.1%
    ** Hang Seng Composite Index  .HSCI  and Hang Seng Index
 .HSI  both down 0.2%
    ** As of last close, the stock had fallen 25.7% this year

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