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April 11, 2003

HONG KONG: Guangdong results below forecasts

The Hong Kong-listed Chinese brewer, Guangdong Brewery, has posted a net profit of HK$78.0m, up from HK$32.43m in 2001.

The Hong Kong-listed Chinese brewer, Guangdong Brewery, has posted a net profit of HK$78.0m, up from HK$32.43m in 2001.

However, shares in the brewer fell by 6% on the back of the results which came in below analysts’ forecasts. A Multex Global Estimates consensus forecast had predicted a net profit for 2002 of HK$79m.

Sales revenues rose from HK$543m to HK$593m.

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