HK-listed Uni-President hits 6-month high on strong Q1 earnings

Uni-President China Holdings

08/05/2019 03:34

** Shares of Uni-President China Holdings Ltd  0220.HK  rise
as much as 16.3 pct to HK$8.37, their highest since Nov. 8,
2018, after the instant noodles and beverages maker posts strong
earnings growth in Q1 
    ** Stock ranks the 2nd biggest percentage gainer in early
trade 
    ** Co says its profit for three months ended in March
amounted to 380.5 million yuan ($56.21 million), up 48 pct from
the 257 million yuan profit the same quarter in 2018 (https://bit.ly/2H7gNhm)(https://bit.ly/2H7gdAc)
    ** Daiwa says Uni-President's Q1 earnings is ahead of the
brokerage's full year estimate and it expects the firm to
achieve mid-single digit year on year revenue growth target for
2019 with operating margin expansion
    ** As of last close, the stock had risen 5.9 pct so far this
year
    ** Uni-president has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 0.7 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  slides 0.8 pct, while the benchmark index
 .HSI  eases 0.7 pct on Wednesday


($1 = 6.7698 Chinese yuan renminbi)

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