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  • 21 Apr 2022
  • ICICI Securities

UBL volumes for Q4FY22 grows in high single digits

UBL - 1738 Change: 42.15 (2.49 %)

News: UBL's volumes for Q4FY22 grew in high single digits YoY and outperformed the market. UBL's result is slated to be announced on April 26.

Views: We expected 5% growth during the quarter and higher volume growth will likely aid margin improvement (vs. estimated 11% EBITDA margins). Overall UBL's parent Heineken saw 2.8% volume growth in the Asia Pacific region.

Impact: Positive