China's biggest beer producer Tsingtao Brewery reported that on the back of rising beer sales its net profit for the fiscal year ended December 31 were up 31% to CNY83.5m (US$10.08m).
 
With beer sales up to 251m tonnes, a jump of 35%, revenues were up 37% to CNY4.72 billion from CNY3.45 billion. The brewer will pay a final dividend of 11 fen compared with 10 fen a year earlier.

Tsingtao owns 46 brewery plants in China with a total production capacity of 380m tonnes and an 11% market share.