CHINA: Tsingtao Brewery Co see FY profits rise - reports
The brewers saw FY profits and sales up
Tsingtao Brewery Co has seen a healthy rise in full-year profits and gained market share, according to reports.
China’s second-largest brewer by volume, which is 19% owned by Japan’s Asahi, said net profits in the 12 months to the end of December rose by 12.2% year-on-year to JYN1.97bn (US$318m), Reuters reported yesterday (25 March). The group’s sales in the period grew by 9.7% to JYN28.3bn.
Tsingtao reported that, in China, its market share rose by 1.07 percentage points to 17.2%, Reuters said.
The rise in profits represents a slowdown on the company’s first half, when net profits were up by 38.5% to JYN1.39bn.
All four big global brewers compete in China, with SABMiller-owned Snow the country's biggest selling brand.
Earlier this week, Heineken announced it is starting work on a third brewing facility in the country.
This week, just-drinks welcomes Fiona Curtin, the senior innovation manager at Heineken's division in Ireland and a just-drinks subscriber....
Global beer market volume sales in 2014 were forecast to grow by 2%, according to Euromonitor International, primarily driven by the top five global brewers, which account for 48% of global sales....
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