Light Industry: Rising sales lift Yanjing net profit
(Shenzhen Daily)
Updated: 2006-10-27 14:08
Beijing Yanjing Brewery Co., China’s second-biggest beer producer by
market value, said yesterday third-quarter profit rose 5 percent as economic
growth spurred beverage consumption.
Net income rose to 142 million yuan (US$18 million), or 0.13 yuan a share,
from 135.1 million yuan a year earlier, the Beijing-based company said in a
statement to the Shenzhen Stock Exchange, citing domestic accounting standards.
Sales rose 9 percent to 2.06 billion yuan from 1.9 billion yuan.
The domestic beer market, already the world’s biggest, will expand as much as
5 percent a year through 2008, compared with growth of 0.7 percent for the
United States and 2.5 percent in Europe, according to research firm Canadean.
SABMiller Plc., InBev NV, Heineken NV and other overseas brewers have stepped up
expansion in China to counter stagnant sales at home. (For more biz stories, please visit Industry Updates)
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