News

CHINA: Rising sales drive Tsingtao earnings

Most popular

The just-drinks analyst returns

Coronavirus paves the way for e-commerce boom

"Europe is so primed for hard seltzer" - interview

Beer awards - What's the point? - comment

The just-drinks analyst returns

MORE

Chinese brewer Tsingtao has seen higher beer sales push up earnings during its third quarter.

The brewer, which is battling it out with SABMiller's Chinese venture CR Snow Breweries for leadership in the country's beer market, on Friday (27 October) posted a 26% leap in net profit for the three months to 30 September.

Net profit reached CNY212.2m (US$26.9m) on the back of a 9% rise in beer volumes, buoyed by marketing campaigns for the Tsingtao brand ahead of the 2008 Olympic Games, to be held in Beijing.

Earlier this month, SABMiller claimed it has taken the number one spot in China. In the first six months of 2006, SABMiller said, CR Snow Breweries had a market share of 14.9%, beating Tsingtao, which held 13.9%.

Tsingtao's management acknowledged the "fiercer competition" in China but said it will push on with restructuring its operations throughout China and optimising its brand portfolio to "maintain continuous improvements in profitability".


Sectors: Beer & cider

Companies: SABMiller

Related Content

Heineken unlikely to loosen tight control over China assets - analyst

Heineken unlikely to loosen tight control over China assets - analyst...

Asahi asset tidy continues with Tsingtao Brewery Co stake poised for offload

Asahi asset tidy continues with Tsingtao Brewery Co stake poised for offload...

Heineken links up with China Resources Enterprises in US$3.1bn deal

Heineken links up with China Resources Enterprises in US$3.1bn deal...

Asian beer brands spike in value as China premiumises - study

Asian beer brands spike in value as China premiumises - study...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?