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.