HK-listed Budweiser Brewing APAC jumps most in a year on strong Q3

China Resources Beer Holdings Co

27/10/2022 05:17

** Shares of Budweiser Brewing Company APAC Ltd  1876.HK 
jump as much as 6.9% to HK$17.96, set for the biggest daily pct
rise since October 2021, if gains hold
    ** Stock is the third biggest pct gainer in Hang Seng Index
 .HSI  and in Hang Seng Commerce & Industry Index  .HSNC 
    ** Budweiser APAC posts a 6.3% year-on-year growth in total
volumes in 3Q22 with revenue increasing 7.2%  urn:newsml:reuters.com:*:nFWN31R2RK
    ** The brewer says it delivered top- and bottom-line growth
overall in 3Q22 with volume and top-line growth across all
countries driven by continued momentum in South Korea and India,
partially offset by a challenging environment in China
    ** That compared with a flattish total volume growth in 2Q22
with overall revenue up 3.7%  urn:newsml:reuters.com:*:nFWN2Z85XR
    ** Citi says it sees the three HK-listed beer companies as
having well differentiated profiles for investors with Tsingtao
 0168.HK  as a pure China beer play, China Resources Beer
 0291.HK  with China beer and baijiu exposure, and Budweiser
APAC a regional beer play with a rich portfolio of powerful
premium brands
    ** Hang Seng Commerce & Industry Index  .HSNC  surges 2.2%
and Hang Seng Index  .HSI  rises 1.7%
    ** As of last close, the stock had fallen 17.9% this year
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))