CHINA: Tsingtao Brewery posts H1 profits jump as costs lower - report

By | 30 August 2013

Tsingtao released its H1 results yesterday

Tsingtao released its H1 results yesterday

Tsingtao Brewery has posted a big rise in first-half net profits, according to reports.

Net profits climbed by 38.5% to CNY1.39bn (US$227m) in the first six months of the year, Hong Kong financial website Etnet reported yesterday (29 August). Net sales increased by 12% to CNY15bn over the same period, while volumes were up 10% to 45.8m hectolitres.

The jump was reportedly because of a better product mix and lower raw material costs.

Earlier this year, Tsingtao Brewery, which is 19% owned by Japan's Asahi, posted a 3% increase in net profits for 2012, as sales increased by 11%. 

Expert analysis

Global Beer Tax Tables, 2012

This report covers 58 markets and comprises a series of tables covering taxation base, historical excise rates, legal controls and a calculation of the total taxation burden on beer.

Sectors: Beer & cider, Company results, Emerging markets – BRIC

Companies: Asahi, Tsingtao

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