Budweiser Brewing hits over 4-1/2-mth high on solid H1 results

China Resources Beer Holdings

28/07/2022 04:30

** Shares of Budweiser Brewing Company APAC Ltd  1876.HK , 
Asia's largest beer company by sales, rise 4.1% to HK$24.25,
their highest since March 8, and on course for seventh straight
sessions of gains 
    ** Stock set for the biggest daily pct gain since June 28 if
gains hold; the fifth biggest pct gainer in the benchmark Hang
Seng Index  .HSI 
    ** Budweiser Brewing, the Asia arm of Anheuser-Busch InBev
 ABI.BR , posts a 24.3% year-on-year growth in H1 profit to $625
mln while revenue slipped 0.7% to $3.45 bln  urn:newsml:reuters.com:*:nFWN2Z85XR
    ** Jefferies says Budweiser Brewing's 2Q22 beat on both
sales and normalised EBITDA  
    ** Shares of rival China Resources Beer Holdings Co Ltd
 0291.HK  climbs 1%, while Hong Kong stock of Tsingtao Brewery
Co Ltd  0168.HK  rises 2%
    ** The Hang Seng Composite Industry Index on consumer
staples  .HSCICS  gains 0.7%, the Hang Seng Composite Index
 .HSCI  climbs 0.2%, and the Hang Seng Index  .HSI  edges up
0.01%
    ** As of last close, the stock of Budweiser Brewing had
risen 13.9% this year

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