CHINA: FuJian YanJing HuiQuan profits fall
The Chinese brewer FuJian YanJing HuiQuan Brewery Co. has seen first-half net profit fall 45%, compared to the same period last year, to CNY4.14m (US$0.5m). The company blamed rising costs for a fall in profit margins.
The beer maker said its net profit for the six months ended June 30 was 4.14 million yuan ($1=CNY8.28), down from CNY7.60 million in the year-earlier period.
Core revenues fell 1.6% on year to CNY396.0m, the company said.
The rising costs of raw material, including barley, and higher costs of packaging and transport were blamed.
Sectors: Beer & cider
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