HONG KONG, April 26 Tsingtao Brewery Co Ltd
reported a 8.3 percent rise in
first-quarter net profit as warmer weather fuelled beer
consumption and demand for premium products boosted margins.
China's second-largest beer maker by volume, in which
Japan's Asahi Breweries holds near-19 percent stake,
posted a net profit of 488 million yuan ($79.1 million) for the
January to March quarter, up from 450.6 million yuan a year
earlier. Revenue rose 12.7 percent to 6.3 billion yuan.
The company said beer sales volumes amounted to 18.29
million hectolitres for the quarter, up 11.7 percent from 16.4
million hectolitres in the same period a year ago.
Last month, Tsingtao posted a 1.2 percent rise in 2012 net
profit in its slowest growth since 1999, as higher production
costs offset a rise in beer sales.
Tsingtao's Hong Kong-listed shares are up more than 12
percent this year, outpacing a fall of nearly 5 percent in the
Hang Seng Index.
($1 = 6.1707 Chinese yuan)
(Reporting by Donny Kwok; Editing by Helen Massy-Beresford)