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China Resources Beer swings to profit in 2016
March 21, 2017 / 4:48 AM / 9 months ago

China Resources Beer swings to profit in 2016

HONG KONG, March 21 (Reuters) - China Resources Beer (Holdings) Co Ltd reported its first annual profit in three years in 2016, as it focused on its flagship Snow brand and expanded sales in various Chinese cities, while optimising product mix.

The owner of Chinese beer brand Snow on Tuesday posted a profit of 629 million yuan ($91.1 million), compared with a restated 4.1 billion yuan loss in 2015 including losses in other businesses, which it sold to its parent in September 2015.

Revenue increased 2.6 percent to 28.69 billion yuan. ($1 = 6.9060 Chinese yuan) (Reporting by Donny Kwok; Editing by Subhranshu Sahu)

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