News

CHINA: Tsingtao Brewery Co profits come in flat in YTD

Most popular

Pernod Ricard Performance Trends 2015-2019

Diageo Performance Trends 2015-2019 - data

just-drinks speaks to Comite Champagne

Major spirits brands dodge the US tariff bullet

Has soft drinks missed premiumisation train?

MORE
  • YTD net profits rise by 1.1% to CNY1.683bn 
  • Sales up by 13.7% to CNY21.795bn in nine months to end of September 
  • Beer volumes increase by 12.8% to 68.2m hectolitres  
  • Sales of flagship Tsingtao brand up by 10.2% to 36m hl 

Tsingtao Brewery Co has reported flat profits in the year-to-date with raw material price hikes and rising labour costs offsetting a lift in sales.

//i2.aroq.com/1/Tsingt23ao.jpg

Net profits in the nine months to the end of September edged up by 1.1% to CNY1.68bn, the brewer said earlier today (30 October). Sales in the same period increased by 13.7% to CNY21.79bn. 

However, profits were up only slightly in the year so far compared to the group's H1 results

Volumes gained 12.8% to 68.2m hectolitres in the year-to-date, while sales of its flagship beer brand, Tsingtao, up by 10.2% to 36m hectolitres. 

In Q3, net profits were flat at CNY675.2m, the company said. 

Tsingtao pointed to raw material price hikes and rising labour costs as reasons for the performance. But, the company tried to negate this by strengthening its marketing activities around the London Olympics. 

It added: "The company’s growth rate of sales volume of beer was higher than the average rate of the beer industry."

Shares in Tsingtao were today down 0.37% at CNY30.68.

To view Tsingtao's statement, click click here.


Related Content

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

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

Growth trend continues for Gruppo Campari in YTD 2017 - results

Growth trend continues for Gruppo Campari in YTD 2017 - results...

Carlsberg Q3 & YTD 2017 by region - results data

Carlsberg Q3 & YTD 2017 by region - results data...

How did Brown-Forman perform in YTD fiscal-2019? - results data

How did Brown-Forman perform in YTD fiscal-2019? - results data...

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?