CHINA: Tsingtao H2 earnings soar

By | 20 April 2007

Tsingtao Brewery has posted an impressive leap in earnings for the second half of 2006.

The Chinese brewer, which is 27%-controlled by Anheuser-Busch, said today that earnings in the latter six months of last year came in 77% up on the corresponding period last year, hitting CNY235.1m (US$30.47m), compared to CNY132.9m a year earlier.

Net profit for the year hit CNY447.9m against CNY306.6m in 2005.

Tsingtao is fighting tooth and nail with SABMiller's China Resources Snow Breweries, which holds 15% share of the Chinese beer market. Tsingtao is just behind Snow, with around 14%.

Sectors: Beer & cider

Companies: Anheuser-Busch, SABMiller

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