CHINA: Beijing Yanjing sees profits continue to climb
Beijing Yanjing Brewery has posted a leap in net profit for its third quarter.
The company, which is the last remaining major independent brewer in China, said yesterday (25 October) that unaudited net profit for the three months to the end of September increased by 36.6% year-on-year, reaching CNY192.71m (US$25.7m).
Sales totalled CNY2.61bn, up from CNY1.91bn in Q3 2006. In volume terms, sales were up 17% to 31.7m hectolitres.
For the first nine months of 2007, net profit at Yanjing rose to CNY386.2m from CNY295.5m, while sales were up to CNY6.39bn from CNY5.12bn.
Beijing Yanjing has been the subject of speculation linking it to InBev in the last 12 months. In September last year, the brewer moved to quash rumours that it had invited InBev to take a stake in the company.
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