Beijing Yanjing Brewery has posted a slight rise in H1 net profit. The Chinese brewer said yesterday (29 August) that net income for the first six months of this year was up by 5.21% year-on-year, reaching CNY146.72m (US$18.1m). While total revenue was up by 13.4% on the corresponding period a year earlier to CNY2.56bn, beer sales made up 96.38% of sales at CNY2.47bn.

In volume terms, Yanjing saw beer sales rise by 4.84% in the six-month period to 1.34m kilolitres. Earnings per share dipped slightly, however, to CNY0.14 from CNY0.21 a year earlier, as a result of the brewer's capitalisation expansion to 1.02bn shares at the end of June after a three-for-10 bonus shares offer.

The company did not follow the announcement with an earnings forecast for the rest of the year, but added that it will strengthen cost control and explore new markets in the second half.

Earlier this month, Yanjing celebrated its appointment as the domestic beer sponsor for the 2008 Olympic Games in Beijing.