Snack maker Want Want China falls most in 5 months after annual results

Want Want China Holdings

22/06/2021 08:40

** Shares of Want Want China Holdings Ltd  0151.HK  fall
5.6% to HK$5.61, the biggest intraday percentage decline since
Jan. 29, after the Chinese rice cracker and beverage producer
reports its yearly results which is in line with street view
    ** Stock sinks to the lowest since May 27 and on course to
snap two straight sessions of gains
    ** Shanghai-based company posted a 13.9% year on year rise
in net profit for year ended March at 4.16 bln yuan ($643.19
mln) while revenue grew 9.5% 22 bln yuan (https://bit.ly/3j2uIbN)
    ** Company says it will focus on developing overseas market,
diversify its distribution channels and increases points of
sales coverage in the year ahead (https://bit.ly/3j0fvIl)
    ** Says its Vietnam production base is expected to commence
operations in fiscal 2021
    ** The Hong Kong composite Industry Index tracking consumer
staples  .HSCICS  slides 0.5%
    ** The Hang Seng China enterprises index  .HSCE  slips 0.4%,
and the benchmark index  .HSI  eases 0.2%
    ** As of last close, the stock had risen 5.9% this year


($1 = 6.4678 Chinese yuan renminbi)

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