HK-listed instant noodle maker Uni-President hits near 2-month high on solid Q3 earnings

Uni-President China Holdings

12/11/2020 02:37

** Shares of beverage and instant noodle maker Uni-President
China Holdings Ltd  0220.HK  rise as much as 6.4% to HK$7.43,
their highest since Sept. 18
    ** Stock last up 5.2%, set for the best day since March 31
    ** Shanghai-based company says its profit after tax for nine
months ended in September amounted to 1.68 bln yuan ($253.96
mln) (https://bit.ly/2GSVJ0N)
    ** Brokerage Daiwa reiterates "outperform" rating, saying
the firm's Q3 net profit growth was better-than-expected with
beverage posting positive year on year growth for the first time
in 2020 while net profit benefiting from lower selling expenses
in Q3
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
rises 2.1%
    ** The Hang Seng China enterprises index  .HSCE  gains 0.4%,
while the benchmark index  .HSI  edges down 0.03%
    ** As of last close, the stock had fallen 14.7% this year 


($1 = 6.6152 Chinese yuan renminbi)

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))