Budweiser Brewing Company APAC (1876) said its net profit fell 6 percent to US$898 million (HK$7 billion) in 2019 from a year before, and expects a year-on-year decline in revenue of US$285 million for the first two months due to the coronavirus outbreak. It also projects a decline in normalized earnings before interest, tax, depreciation and amortization of approximately US$170 million in the first two months from a year before. Revenue grew by 1.8 percent year-on-year to US$6.55 billion last year. Revenue in China grew by 3.2 percent driven by revenue per hectoliter growth of 6.4 percent and a volume decline of 3 percent last year. We have observed almost no activity in the nightlife channel and very limited activity in restaurants," the company said.

Source: The Standard February 27, 2020 19:07 UTC