BUZZ-China Resources Beer rises on solid results, higher dividend

Reuters03-18

** Shares of China Resources Beer Holdings Co Ltd rise 2.8% to HK$37.30, on course for the biggest one-day pct gain since March 12

** The Chinese brewer said its 2023 net profit rose 18.6% YoY to 5.15 bln yuan (about $716 million) with revenue up 10.4% YoY to 38.93 bln yuan and beer sales volume up 0.5% YoY

** Co recommends a final dividend of 0.349 yuan per share, as compared to 0.302 yuan each in 2022, and a special dividend of 0.300 yuan per share, vs nil in 2022, for celebrating the 30th anniversary of the group

** "Looking ahead to 2024, growth will continue to be the CR Beer’s top priority" - co

** Hang Seng Consumption Index slips 0.3%, while Hang Seng Composite Industry Index tracking consumer staples

climbs 0.4% and Hang Seng Index adds 0.2%

** Stock up 8.5% YTD

($1 = 7.1974 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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