May 7 (Reuters) - Budweiser Brewing Company APAC Ltd :
* QTRLY TOTAL VOLUMES 12,772 THOUSAND HECTOLITRES VERSUS 22,116 THOUSAND HECTOLITRES
* QTRLY REVENUE $956 MILLION VERSUS $1606 MILLION
* BUSINESS WAS STRONGLY AFFECTED BY COVID-19 PANDEMIC DURING Q1 2020
* Q1 NORMALISED LOSS ATTRIBUTABLE $6 MILLION VERSUS PROFIT OF $259 MILLION
* ADDITIONAL COST INITIATIVES STARTED TO TAKE EFFECT MAINLY IN MARCH & EXPECTED TO CONTINUE IN Q2 2020
* SINCE MID-MARCH, BUSINESS IMPROVING CONSISTENTLY WEEK-OVER-WEEK, DRIVEN BY RECOVERY IN CHINA & SOUTH KOREA
* BELIEVE THAT LONG-TERM GROWTH POTENTIAL OF ASIA PACIFIC REGION REMAINS STRUCTURALLY INTACT
* “STARTING IN MARCH, WE HAVE OBSERVED AN ENCOURAGING TREND OF BUSINESS RECOVERY”
* IN CHINA, ESTIMATE VOLUMES DECLINED BY ABOUT 17% IN APRIL 2020
* RE-OPENED ALL OF OUR BREWERIES IN CHINA
* IN INDIA, RECEIVED PERMITS TO RESUME OPERATIONS AT MAJORITY OF BREWERIES
* IN VIETNAM & OTHER SOUTH EAST ASIA MARKETS, PANDEMIC’S IMPACT EXPECTED TO BE MORE SIGNIFICANT IN 2Q20
* IN SOUTH KOREA, IN APRIL, CO CONTINUED TO OBSERVE ENCOURAGING TREND OF BUSINESS RECOVERY Source text for Eikon: Further company coverage:
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