HMSP guides for volume growth from 2Q21F, thanks to improved consumer mobility and the low base from last year; we project 4% growth in FY21F. While consumers continue to downtrade, HMSP said it has benefited from a relatively resilient premium segment, notably A Mild. Reiterate Hold; we see its margins continuing on a declining trend in FY21F.
- 1 Weekend Reading/Global Surf the money tsunami or drown? New index shows countries most ready for MMT
- 2 Macro Analysis/Global East African budgets: Policy shift brightens outlook in Kenya, Tanzania & Uganda
- 3 Strategy Note/India India sues Twitter
- 4 Sovereign Analysis/Laos Laos: Moment of reckoning for its eurobond
- 5 Sovereign Analysis/Suriname Suriname: Bondholders trigger termination clause – implications
This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...