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San Miguel Sales Rose, But Profit Fell on Unrealized Forex Effects
Tianfeng Securities: Liquor companies are actively preparing for the third quarter and focusing on Q2 sector performance.
Currently, the fundamentals of the baijiu sector are still good, and we are bullish on the short-term sector's rebound opportunities.
Beer stocks rebounded in early trading, with China Res Beer and Bud APAC both up more than 5%.
Beer stocks rebounded in early trading, with China Res Beer (00291) up 4.72% to HK$24.4; Bud APAC (01876) up 4.67% to HK$9.64; and Tsingtao Brew (00168) up 4.27% to HK$50.05.
San Miguel Brewery Hong Kong's Attributable Profit Falls
San Miguel HK (00236.HK) had a comprehensive revenue of 0.378 billion Hong Kong dollars in the first half of the year, a decrease of 9.1% year-on-year.
San Miguel HK (00236.HK) announced on July 29th that the group recorded a comprehensive profit of 38.5 million Hong Kong dollars in the first half of 2024, compared to a comprehensive profit of 50.7 million Hong Kong dollars in 2023. Therefore, the company's equity shareholders are expected to earn a profit of 37.6 million Hong Kong dollars in 2024, compared to a profit of 48.5 million Hong Kong dollars last year. The decrease in profit is due to the decrease in export volume and export profit in the southern business. The group's comprehensive revenue was 0.378 billion Hong Kong dollars, a 9.1% decrease from the same period last year. Gross profit was 0.14 billion Hong Kong dollars, a 15.4% decrease from last year, and the gross margin was gross margin.
Express News | San Miguel Brewery Hong Kong H1 Revenue HKD 378.1 Million
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