China’s Tsingtao Brewery has reported strong rises in sales and profits for the first half of 2010 thanks to consumer demand for the firm’s more profitable beers.
Tsingtao Brewery saw net sales for the six months to the end of June rise by 10% on the same period of 2009, to RMB9.8bn. Cost controls and strong consumer demand for higher margin beers, like Tsingtao Draft, canned beer and newly launched Tsingtao Bingchun, helped net profits to increase by 30% to RMB830m, said Tsingtao late last week.
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