CHINA: Rising sales boost Chongqing earnings - report

By just-drinks.com editorial team | 31 March 2006

Chinese beer maker Chongqing Brewery saw net profit rise 19.5% last year on the back of rising sales, according to local reports.

The brewer, in which Scottish & Newcastle is a minority shareholder, today (31 March) posted a net profit of CNY78.8m (US$9.8m), according to Dow Jones. Revenues rose 19.2% to CNY1.5bn.

S&N is the second-largest shareholder in Chongqing with a 19.5% stake. Chongqing is the number five brewer by volume, selling 7.4m hectolitres annually.

The brewer, whose flagship brand is Shangcheng, dominates the Chongqing region with a local market share of 80%.

Sectors: Beer & cider