Tsingtao uncaps 46pc profit increase

PUBLISHED : Friday, 20 April, 2007, 12:00am
UPDATED : Friday, 20 April, 2007, 12:00am

Tsingtao Brewery's earnings rose 46 per cent last year, spurring the mainland beer maker to invest heavily in boosting production this year. It said net profit surged to 447.8 million yuan from 306.5 million yuan in 2005, as sales grew 16.5 per cent to 11.6 billion yuan. Tsingtao says it will set up a plant in Chengdu, Sichuan province, with annual output of 200,000 kilolitres and plans to boost sales in Shandong by lifting capacity at its new Jinan plant to 300,000 kilolitres.