Instant noodle maker Uni-President falls to 3-month low after H1 earnings

Uni-President China Holdings

08/08/2018 07:26

** Shares of Uni-President China Holdings Ltd  0220.HK  fall
11.4 pct to HK$7.61 on Wednesday, the lowest since May 7, after
it posts unexciting but solid H1 results
    ** The stock is poised for biggest single day of percentage
decline since March 26, 2013  
    ** The instant noodle and beverage maker says H1 profit
rises 25.4 pct with revenue up 6 pct  urn:newsml:reuters.com:*:nFWN1UY06J
    ** Jefferies says Uni-President's H1 results meet forecast
with no upside surprise and says it is better to chase a more
resilient and defensive larger player such as Tingyi  0322.HK 
given the industry-wide recovery 
    ** Daiwa sees a more challenging outlook in the beverage
sector for 2H18 and a better outlook for noodles
    ** As of the previous close, the stock had risen 31.35
percent so far this year
    ** Uni-President has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 7.4 percentage points in the
past one month
    ** As of 0557 GMT, about 7.99 million shares of the instant
noodle and beverage maker change hands, compared with their
30-day moving average of 5.93 million shares a day
    ** Among the 24 analysts that cover Uni-President, the
current average rating on the shares is "buy"; the breakdown of
recommendations is 14 "strong buy" or "buy", eight "hold" and
two "sell" or "strong sell". The mean price target is HK$8.7 
    ** Hong Kong benchmark index  .HSI  gains 0.2 pct

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