Tsingtao sees up to 70 pct rise in H1 profit

HONG KONG, July 14 (Reuters) - Tsingtao Brewery Co Ltd (600600.SS) (0168.HK) said late on Monday it expected its net profit for the first half of 2009 to increase by 60-70 percent year-on-year.

The brewer said efforts to strengthen its plant management and lower costs had helped boost its earnings and sales, giving no further details.

The company posted a profit of 381.13 million yuan ($55.78 million) in the first six months of last year according to Chinese accounting standards. (US$1=HK$7.8=6.832 yuan) (Reporting by Donny Kwok; editing by Jonathan Hopfner)