Earnings Report /
Sri Lanka

Lion Brewery Ceylon: 1Q FY22 - Valuations attractive; however, likely taxes a threat

  • Revenues down QoQ; market position beneficial despite volume decline

  • Margins decline QoQ; we revise our FY22E margin forecast downwards

  • We downgrade our rating to a HOLD with a revised TP of LKR 655/share

Asia Securities
26 August 2021
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