China Resources Beer rises on solid results, higher dividend

China Resources Beer Holdings

18/03/2024 06:33

** Shares of China Resources Beer Holdings Co Ltd  0291.HK 
rise 2.8% to HK$37.30, on course for the biggest one-day pct
gain since March 12
    ** The Chinese brewer said its 2023 net profit rose 18.6%
YoY to 5.15 bln yuan (about $716 million) with revenue up 10.4%
YoY to 38.93 bln yuan and beer sales volume up 0.5% YoY  
    ** Co recommends a final dividend of 0.349 yuan per share,
as compared to 0.302 yuan each in 2022, and a special dividend
of 0.300 yuan per share, vs nil in 2022, for celebrating the
30th anniversary of the group 
    ** "Looking ahead to 2024, growth will continue to be the CR
Beer’s top priority" - co 
    ** Hang Seng Consumption Index  .HSCGSI  slips 0.3%, while
Hang Seng Composite Industry Index tracking consumer staples
 .HSCICS  climbs 0.4% and Hang Seng Index  .HSI  adds 0.2%
    ** Stock up 8.5% YTD  


($1 = 7.1974 Chinese yuan renminbi)

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