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BUZZ-Budweiser Brewing hits over 4-1/2-mth high on solid H1 results

BUZZ-Budweiser Brewing hits over 4-1/2-mth high on solid H1 results

Reuters · 07/27/2022 23:30
BUZZ-Budweiser Brewing hits over 4-1/2-mth high on solid H1 results

** Shares of Budweiser Brewing Company APAC Ltd BDWBY, Asia's largest beer company by sales, rise 4.1% to HK$24.25, their highest since March 8, and on course for seventh straight sessions of gains

** Stock set for the biggest daily pct gain since June 28 if gains hold; the fifth biggest pct gainer in the benchmark Hang Seng Index .HSI

** Budweiser Brewing, the Asia arm of Anheuser-Busch InBev BUD, posts a 24.3% year-on-year growth in H1 profit to $625 mln while revenue slipped 0.7% to $3.45 bln

** Jefferies says Budweiser Brewing's 2Q22 beat on both sales and EBITDA

** Shares of rival China Resources Beer Holdings Co Ltd CRHKY climbs 1%, while Hong Kong stock of Tsingtao Brewery Co Ltd 0168.HK rises 2%

** The Hang Seng Composite Industry Index on consumer staples .HSCICS gains 0.7%, the Hang Seng Composite Index .HSCI climbs 0.2%, and the Hang Seng Index .HSI edges up 0.01%

** As of last close, the stock of Budweiser Brewing had risen 13.9% this year


(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))