Tsingtao Brewery 2010 net profit up 21.6%
Tsingtao Brewery Co Ltd, one of China's leading beer makers, Thursday announced its 2010 net profit hit 1.52 billion yuan ($231.8 million), up 21.6 percent year-on-year.
The company's sales revenue rose 10.4 percent year-on-year to 19.6 billion yuan due to steady market expansion, the Shanghai-listed firm said in its 2010 annual business report.
Earnings per share rose 18.4 percent from a year earlier to 1.13 yuan, according to the report.
The brewery, based in Qingdao, Shandong province, attributed the net profit growth mainly to rising sales of high-end products, said the report.
