CHINA: Tsingtao Q1 figures head north
Tsingtao Brewery has posted a rise in net profit for the first quarter of this year.
The Chinese beer maker said today (28 April) that revenue increased in the three-month period to CNY74.9m (US$9.3m) from CNY68.9m a year earlier. Core revenue was up by 18% in the period at CNY2.39bn.
In volume terms, beer sales in the quarter were up by 15% at 869,000 kilolitres, the company said, with sales of flagship beer Tsingtao up by 19% at 315,000 kilolitres.
"With the coming summer peak season upon us, due to extensive restructuring of our operations, we are ready to expand our market presence despite increasing competition at home and abroad," the company added in a statement.
Sectors: Beer & cider
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