CHINA: Beijing Yanjing enjoys strong H1
Beijing Yanjing Brewery has posted increases in both sales and profit for the first half of this year.
The brewer said today (22 August) that net profit for the six-month period rose by 5.25% on the corresponding period a year earlier, coming in at CNY154.43m (US$19.4m). Sales climbed more impressively, by 18.23% year-on-year to CNY3.02bn.
Earnings per share came in flat at CNY0.14.
In volume terms, Yanjing saw beer sales for the half-year increase by 17.23% to 15.7m hectolitres.
Beijing Yanjing's profit came in just below the CNY168.73m forecast by a poll of analysts conducted earlier this month by Dow Jones.
In April, speculation mounted linking InBev with moving to buy a 20% stake in Beijing Yanjing. At the time, InBev refused to comment on the speculation.
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