Tsingtao Brewery First-Half Net Rises

Net income rose to 830 million yuan ($122 million), or 0.61 yuan per share, from 639.8 million yuan, or 0.49 yuan, a year earlier, China?s second-biggest beer company said in a Hong Kong stock exchange filing Friday. Sales rose 9.4 percent to 9.81 billion yuan.

Tsingtao and rival China Resources Enterprise Ltd. are expanding production and adding variety to increase market share as Chinese demand rises. Per capita beer consumption in China was 30 liters (7.9 gallons) last year, exceeding the global average of 27 liters, according to Seema International Ltd.
Sales volume growth rose 2.9 percent in the first half, Tsingtao said Friday. Sales of its Tsingtao-brand beer rose 17 percent, it said.

Tsingtao Brewery will increase production capacity in the second half, the statement said. The company also will ?actively seek? opportunities for mergers and acquisitions to increase market share.

Source : Konaxis

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