BIZCHINA / Biz Media Digest
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.
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