18 March, 2024

China: China Resources Beer's 2023 net profit rises buoyed up by higher beer sales

China Resources Beer's 2023 net profit rose due to higher beer sales as the lifting of pandemic-related restrictions supported overall business, Morningstar.com reported on March 18.

Net profit rose 18.7% in the year to 5.15 billion yuan ($715.7 million), while consolidated revenue grew 10.4% to CNY38.93 billion , the company said Monday.

China Resources Beer also announced that it planned to pay a special dividend of CNY0.300 per share, bringing the overall 2023 payout to CNY0.936 per share.

"The recovery of China's economy is still at a critical stage, and the long-term trend remains positive," it said.

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