CHINA: Profits soar at Tsingtao Brewery in Q1
Tsingtao Brewery Co. has posted a massive lift in profits for the first quarter.
The Chinese company, which is 27%-owned by Anheuser-Busch, said today (29 April) that net profits for the first three months of 2008 leapt by 216.7% on the corresponding period a year earlier, reaching CNY129.6m (US$18.5m). Core sales in the quarter increased by 27.4% to CNY3.54bn.
Earlier this month, Tsingtao, which is China's largest brewer in sales terms, said that net profit in 2007 leapt by 15.8% on 2006, hitting CNY558.1m. Sales also headed north, climbing by 11% in volume terms to 5.05bn litres, and by 15.9% in value terms to CNY13.5bn. Tsingtao's namesake flagship beer brand delivered a sales increase of 19% in volume terms to 1.93bn litres.
Operating costs also rose sharply, however, leaping by 13.9% year-on-year, due in part to soaring wheat prices. Going forward, rising raw material costs, coupled with the appreciation of the yuan, will make their presence felt more keenly in 2008, the company said.
Icelandic Water opened its long-awaited 'naturally powered' bottling facility late last month. Michelle Russell visited the new state-of-the-art plant and spoke with the company's CEO and co-founder, ...
Hansen Natural reached a distribution deal this week with Coca-Cola Co, together with Coca-Cola Enterprises, to distribute its Monster energy drink in six Western European countries as well as Canada ...
Anheuser-Busch has said that it has agreed a settlement in lawsuits filed by shareholders during the InBev bidding process....
Anheuser-Busch has confirmed details of its latest dividend payment....
The top ten stories published on just-drinks this week:...
[Updated 19:20BST] Grupo Modelo has filed a notice of arbitration against Anheuser-Busch in light of A-B's pending takeover by InBev....
InBev has postponed its rights offering following the recent "unprecedented" volatility on the world's stock markets....
A poor financial climate means Australian drinks group Foster's might be forced to wait to unload its troubled wine division....
- Pernod Ricard's Q3 2017 trading update - Preview
- Why Scotch must drop the 'malts good, blends bad'
- How soft drinks brands manage to offend consumers
- Heineken Q1 2017 by region - results data
- Pernod's mood darkens over India - Analysis
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Scotch sales set to soar, despite recent struggles
- William Grant snaps up Tuthilltown Spirits in US
- TWE's Beringer Main & Vine Dry Rosé - NPD
- Edrington shifts innovation to US in shake-up
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Flavoured Powder Drinks in 2017: Confronting an Ageing World