HK-listed Budweiser Brewing hits 2-week low as yearly profit falls

Electrotherm (India)

29/02/2024 03:09

** Shares of Budweiser Brewing Company APAC Ltd  1876.HK 
fall 8.2% to HK$12.46, their lowest since Feb 14
    ** Stock is the second-biggest decliner in Hang Seng Index
 .HSI  and Hang Seng Commerce & Industry Index  .HSNC  
    ** Co said profit attributable to equity holders for 2023
fell 6.7% YoY to $852 mln while revenue rose 11.1% YoY to $6.86
bln and total volumes up 4.6% driven by ongoing premiumization
in China and India 
    ** Co says 4Q volumes declined 2.1%
    ** Hang Seng Commerce & Industry Index  .HSNC  climbs 0.4%,
Hang Seng Consumption Index  .HSCGSI  rises 1.4%, and Hang Seng
Index  .HSI  adds 0.6%
    ** Stock down 10.4% YTD 

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