Budweiser Brewing Company APAC (1876) reported today net profit fell from US$958 million in the financial year 2018 to US$898 million in financial year 2019. This was the result of increased withholding taxes related to the initial public offering and unfavorable currency translation effects, the company saidBudweiser APAC recommended of a final dividend of 2.63 US cents per share. Revenue grew by 1.8 percent, translating to a 2.9 percent decline on the reported basis after including currency impacts and scope changes, with revenue per hectoliter growth of 4.9 percent. This was mainly driven by premiumization across markets and supported by revenue management initiatives, the company said. Adjusted earnings per share was 7.52 cents US in 2019.

Source: The Standard February 27, 2020 03:28 UTC