China: China Resources Beer’s net profit up 20% in H1 2019
China Resources Beer's net profit rose 20% on year in the first half, boosted by increased sales volume and higher average sale prices.
The brewer made net profit of 1.87 billion yuan ($265.9 million) in the six months to June, while revenue grew 7.2% on year to CNY18.83 billion, it said in an earnings statement on August 16.
It declared an interim dividend per share of CNY0.12, up from CNY0.09 a year ago. Earnings per share for the half rose to CNY0.58 from CNY0.46.
The company expects competition in the industry to remain intense, and said it will continue bolstering its position in the premium market by leveraging its partnership with Dutch group Heineken NV.
China Resources Beer said it completed the acquisition of Heineken China in April.
Back
E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .
