CHINA: Tsingtao reports profits rise
China's largest brewer Tsingtao Brewery has reported a 16.4% jump in net profit for the year to Y285m, according to local reports.
The figure was achieved with the help of a 14.7% increase in sales to Y7.7 billion. Volumes were also up by 13.8% 3.71m kiloliters.
The Tsingtao brand name made up about a third of the volumes.
Tsingtao has a 12.8% share of the Chinese market.
Yesterday, the US brewer Anheuser-Busch said it had increased its stake in Tsingtao to 27%.
Sectors: Beer & cider
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