CHINA: Tsingato brand drives company profits up
Tsingtao Brewery, China's biggest brewer and Anheuser-Busch partner, has seen its first half profits leap 64%, in line with market expectations. The company's interim net profit of ¥113.32m (US$13.68 million) was consistent with its recent guidance that unaudited first half profits rose more than 50%. A strong performance by the eponymous flagship brand, which was up 40%, was attributed with the success.
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