China Resources Beer 1st Half Net Profit Rose 20%
August 16 2019 - 01:37AM
Dow Jones News
By Martin Mou
China Resources Beer's (0291.HK) net profit rose 20% on year in
the first half, boosted by increased sales volume and higher
average sale prices.
The brewer made net profit of 1.87 billion yuan ($265.9 million)
in the six months to June, while revenue grew 7.2% on year to
CNY18.83 billion, it said in an earnings statement Friday.
It declared an interim dividend per share of CNY0.12, up from
CNY0.09 a year ago. Earnings per share for the half rose to CNY0.58
from CNY0.46.
The company expects competition in the industry to remain
intense, and said it will continue bolstering its position in the
premium market by leveraging its partnership with Dutch group
Heineken NV (HEIA.AE).
China Resources Beer said it completed the acquisition of
Heineken China in April.
Write to Martin Mou at martin.mou@wsj.com
(END) Dow Jones Newswires
August 16, 2019 01:22 ET (05:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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